Update on FaustinaFaustina still has her business selling vegetables such as carrots, onions and tomatoes, and also continues with her business of raising small animals such as guinea pigs and chickens. The member raises and fattens them, and sells them in the various fairs and markets. She works from 8:00 a.m. until 6:00 p.m. She has been in this business for four years already, and it is going very well. Her dream is to have a sales outlet where she can sell the animals.
The member is requesting the loan in order to buy guinea pigs and hens. She is happy about the loan, and promises to make her installment payments.
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 »
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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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