Update on FortunataThis communal bank member continues working in the grocery store, and at the same time she continues to sell "lechon con tamal" (pork tamales). She has worked in her businesses for years, and they bring her satisfaction -- as much economic and personal. She wishes to be able to continue working because in this way she continues to support her family.
She is requesting the loan to purchase sodas for her grocery store. She is happy for the loan and commits to making her payments.
La socia solicita el credito para la compra de gaseosas para la tienda de abarrotes.
La socia está feliz por el préstamo y se compromete a cumplir con los pagos de su cuota.
Previous Loan DetailsThis communal bank member continues to work in her grocery store business. She sells basic products such as rice, sugar, and milk. She also sells "lechon con tamal" (pork tamales). She prepares food for weddings, baptisms, and birthdays. She has had these businesses for 30 years. Her dream is to ... More from Fortunata'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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