Update on IrmaThe borrower has four children, three boys who are 27, 26 and 21 years old and a 12-year-old daughter. She’s a vegetable merchant. She buys tomatoes, lima beans and onions, among other vegetables and sells them in the market in Anta. She also has a grocery store that she wants to stock for the upcoming Christmas holidays. She wants to use the loan to buy sacks of flour, bags of rice, noodles, milk, oil and panettones [traditional Christmas sweet bread]. She will also buy wine and champagne for the Christmas festivities. She will invest the loan in the purchase of products like panettones, wine, champagne and basic staples and will use part of it to buy vegetables for immediate sale. She wants to use income from her business to finish building her house and to continue supporting her children’s studies.
Previous Loan DetailsThe borrower belongs to the “Virgen Inmaculada Concepción - Anta” communal bank, located in the Anta district of Anta province in the department of Cusco. Sra. Irma, who is 54, is married and has 4 children. She alternates her daily activities between a grocery store business and raising anima... More from Irma'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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