Update on VirginiaVirginia continues living in the city of Huancarani in the province of Paucartambo, and this is where she does all types of activities. She continues with making crafts, such as sweaters and blankets, but she also now is helping her husband make wood furniture by doing finishing on the furniture. At this time, Virginia requires a loan to buy more materials, such as wood. It has already been many years that she has worked in this business, and it has been going very well thanks to the determination she puts into her work. Virginia continues with the community bank “Mamacha Rosario” of the microfinance organization Asociación Arariwa, and she is thankful for the opportunity offered through this group. As a result, she promises to comply with repaying the loan according to the schedule. Virginia appears in the photograph with her husband.
En esta oportunidad Virginia requiere el préstamo para comprar más materiales como por ejemplo madera. Ya son varios años que se dedica a este negocio y le va muy bien gracias a su empeño que pone en su trabajo.
Virginia continúa en el banco comunal “Mamacha Rosario” de la Asociación Arariwa y se encuentra agradecida por la oportunidad brindada mediante este medio y así mismo se compromete a cumplir con el pago correspondiente al cronograma. (La socia aparece en la fotografia junto con su esposo).
Previous Loan DetailsVirginia continues living in the city of Huancarani in the province of Paucartambo, and this is where she does all types of activities. She continues with making crafts, such as sweaters and blankets, but she also now is helping her husband make wood furniture by doing finishing on the furniture.... More from Virginia'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
- 6 months (Additional Information)
- Repayment Schedule
- Oct 4, 2013
- Oct 21, 2013
- Currency Exchange Loss:
- Mar 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.