Update on MelchoraMelchora is a member of the Communal Bank "Buena Suerte" (Good Luck). She is 65 years old, married, and has three children. Melchora has been with FINCA Peru for 15 years. She is the owner of handicraft workshop that produces woven and embroidered goods. Melchora feels successful with everything she has accomplished as a result of her savings, which helped her provide an education for her children and pay for the construction of her home. The training classes offered by her Communal bank have taught her a great deal about working and becoming a female entrepreneur. She is grateful to FINCA for the credit services it has provided.
The loan she is requesting will be used to buy supplies, such as thread and wool, and to pay her workers.
Previous Loan DetailsMelchora is a member of the communal bank "Buena Suerte." She is 65 years old, and is the mother of 3 children. She has a business selling handicrafts in the city of Cusco. She has been a member of FINCA for 14 years, and she always invests the loans she takes in her business. She feels very ... More from Melchora's previous loan »
About FINCA PeruThis loan is administered by FINCA Peru, one of Kiva’s Field Partners in Peru. FINCA Peru is dedicated to empowering socially and economically disadvantaged women in Peru, contributing to the development of their families, and building sustainable communities.
In 1990, FINCA Peru began by lending to a small group of women widowed by the Shining Path terrorist movement in Ayacucho. Beyond loans and financial services, FINCA offers business development training, personal and family development training, gender empowerment sessions, life insurance products, and financial and social literacy sessions for the children of borrowers. Visit FINCA Peru’s Kiva Field Partner page to learn more.
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