Update on Rodny HugoHugo still belongs to the Asociacion Arariwa's "Inti" Communal Bank, located in the Cusco department, Peru. The communal bank is three years old and things are going well for all of the members. ("Inti" is the Quechua word for "sun").
Hugh still lives in the historical city of Cusco, in the department of Cusco, Peru. The majority of the people in Cusco have businesses related to tourism.
Hugo is still selling TIENS brand food and energy food items. Hugo was very successful with his previous loan and he was able to increase his income. Hugo needs this loan to buy more energy products.
Hugo sigue viviendo en la histórica ciudad del Cusco del departamento del Cusco, Perú. En la ciudad del Cusco la mayoría de personas se dedican a diferentes tipos de negocios y a brindar servicios pues los negocios están fuertemente relacionados con el turismo.
Hugo continúa vendiendo productos energéticos y alimenticios de la marca TIENS. Hugo con el anterior crédito le fue muy bien pudo incrementar sus ingresos económicos. En esta oportunidad Hugo requiere el préstamo para comprar más productos energéticos.
Previous Loan DetailsHugo is 48 years old and has two children. He was born and lives in the historical city of Cusco, which is in the Department of Cusco, Peru. In the city of Cusco, the majority of the people engages in different types of businesses or provides services closely tied to the tourism industry. Hugo... More from Rodny Hugo'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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Success!! The loan was 100% repaid
- Repayment Term
- 6 months (Additional Information)
- Repayment Schedule
- Feb 2, 2012
- Feb 16, 2012
- Currency Exchange Loss:
- Jul 15, 2012
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.