Update on LorenzaLorenza continues her work making and selling various types of cheese in local markets and fairs. She has six years experience in her trade, and works hard daily from 8:00 every morning until 5:00 every afternoon. Her dream is to one day have her own store where she can sell her cheeses.
Lorenza plans to use the support from this loan to purchase cheeses for her business. She is grateful for this opportunity, and promises to make all scheduled loan repayments on time.
La socia esta contenta con el credito otorgado y se compromete a cumplir los pagos de su cuota.
Previous Loan DetailsLorenza is a native of Tambo Real, a rural community located in the Zurite district of Anta, approximately an hour and a half from the city of Cusco. She is forty-eight years old and married with two children. Lorenza makes cheeses with a laboratory system that she has at her home. During the… More from Lorenza's previous loan »
Important InformationAbout Asociación Arariwa
Asociación Arariwa is a large non-governmental organization that started offering microcredit in 1994 to improve the quality of life, skills and equity of the population in the rural Cusco region of Peru. Arariwa serves the southern Andean provinces of Peru, and is distinguished by its efforts to reach the very poor, who often live in isolated rural areas. Arariwa fosters village banking, supports savings accounts, promotes access to education, and empowers women entrepreneurs (who make up 78% of its borrowers).
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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