Update on FaustinaThis borrower belongs to the “IMA SUMAC SUNCCO” Community Bank. This bank is located in the province and municipality of Cusco.
This borrower is named Mrs. Faustina. She continues with her business selling and buying vegetables such as carrots, onions and garlic among others. She has been in this business for a while, thanks to the effort that she puts into her business each day. She continues to sell in the markets in Cusco. She also continues to raise young animals such as guinea pigs and chickens. This is the means that she has to help her family to progress.
She is asking for this loan in order to buy chickens for her business.
She is thankful for this loan and promises to pay her payments on time.
La socia es la Sra. Faustina;la socia continua con su negocio de compra y venta de verduras como zanahorias, cebollas, apio entre otros, la socia lleva buen tiempo con su negocio el cual le va bien gracias al empeño que le pone cada dia a su negocio, la socia continua vendiendo en uno de los mercados de la ciudad del Cusco, a la vez la socia continua dedicandose a la crianza de animales menores como cuyes y gallinas , siendo de esta forma que la socia saca adelante a su familia.
La socia solicita el préstamo para la compra de gallinas para su negocio.
La socia está feliz por el préstamo y se compromete a cumplir con los pagos de su cuota
Previous Loan DetailsThe borrower belongs to the communal bank “IMA SUMAC SUNCCO.” The bank is located in the province of Cusco, in the department of Cusco. The borrower’s name is Faustina. She is 36 years old, married and has 4 children. She alternates her daily activities with the business of buying and selling… More from Faustina's previous loan »
More information about this 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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Success!! The loan was 100% repaid
- Repayment Term
- 8 months (Additional Information)
- Repayment Schedule
- Jun 6, 2013
- Jul 7, 2013
- Currency Exchange Loss:
- Jan 17, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.