A loan of $575 helped to make home improvements (building bedrooms).


Santiago Arcadio's story

Santiago lives and works vive in Camaná, Perú, an oasis in the otherwise long, dry Sechura Desert that dominates the coastline in the Southwestern part of the country. Camaná was historically a major tourist destination in Perú, however, frequent and forceful earthquakes and tsunamis in the last decade (an 8.4 in 2001 and 8.0 in 2007) decimated the city, permanently destroyed Camaná’s tourism industry, and lost many their jobs, livelihoods, and homes. But the one upshot of unemployment is that it creates an environment primed for microfinance. Microfinance allows a jobless entrepreneur to realize their would-be microenterprises, like the one the member is pursuing today. Santiago is 48 years old and a married man. He has 2 children, both minors. He is a taxi driver and chose this kind of work from vocation as from a young age his father taught him how to drive his car. Santiago is a determined man, responsible and hardworking with a great desire to take care of his family. Santiago has been a taxi driver since 2005. He earns around S/. 300 nuevos soles (PEN) a week. With the loan of S/. 1500 soles (PEN) which he will receive thanks to KIVA, Santiago will invest this loan in improving his house. Señor Santiago's dream is to have his own car so that in the future he can make a larger income to use on his children's education and give them a better quality of life. Señor Santiago is very grateful for the opportunity he is being given. His advisor thinks he is a good member who will make his repayments on time.

Translated from Spanish by Kiva volunteer Maria Blyth



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