Update on Henry SantiagoThe communal Bank "Amistad Cusqueña" meets each month on the 30th in the city of Cusco. Cusco is a well known for being a commercial zone and popular tourist area, for its traditional festival of Inti Raym, and because one of the seven wonders of the world is here, "Machupicchu".
The member Henry was born in the city of Quillabamba but lives in the beautiful city of Cusco. He is 26 years old and is single. His main economic activity is to provide taxi service. In this opportunity he needs a loan to do maintenance on his vehicle. He is very happy with the loan and promises that his payment will be punctual. He is grateful for the assistance provided.
El socio Henry nació en la ciudad de Quillabamba pero vive en la hermosa ciudad del Cusco, tiene 26 años de edad y es soltero. Su actividad económica principal es brindar servicio de taxi. En esta oportunidad requiere el préstamo para hacer mantenimiento del carro. Se encuentra contento por el préstamo pues se compromete a pagar sus cuotas puntualmente y agradece por la ayuda brindada.
Previous Loan DetailsHenry Santiago is 24 years old and drives a taxi. He has had this job for about one year, and is requesting a loan so that he can renew his taxi license. He previously studied to be a chef, and in the future he would like to open a restaurant. Henry Santiago is receiving an individual loan as ... More from Henry Santiago'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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