Update on LeoncioCommunal bank "Amistad Cusqueña" gathers every 30th day of the month in the city of Cusco. Cusco is a very popular touristic and commercial destination, famous for its traditional Inti Raymi festival and because it has one of the world’s seven wonders, Machu Picchu.
Leoncio, one of the bank’s members, was born in the beautiful city of Cusco. He is 52 years old, married and has four children. Leoncio sells books and drives a taxi. This time, he is requesting a loan to buy books. He appreciates receiving the loan and promises to pay the installments on time.
El socio Leoncio nació en la hermosa ciudad del Cusco, tiene 52 años de edad y es casado y tiene cuatro hijos. Su actividad económica principal es vender libros y brindar servicio de taxi. En esta oportunidad requiere el préstamo para comprar mercadería como libros. Se encuentra contento por el préstamo pues se compromete a pagar sus cuotas puntualmente y agradece por la ayuda brindada.
Previous Loan DetailsLeoncio, 52, has worked as a taxi driver in Cusco for 20 years. He also has a second business as a wholesale distributor of books. He is married with four children, two of whom are living independently. A loan will help Leoncio buy Bibles from Lima to distribute at wholesale. His goal is to open ... More from Leoncio'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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