Update on Teresa GerardaThis is our member, Teresa. She belongs to the Virgen Asunta de Rasca Communal Bank from the city of Cusco, Peru. She still sells potatoes wholesale and retail for a living, which she does alongside her sister. However, she has been working independently for a few years now and she has been able to advance and develop this business to the great benefit of her family. Teresa does this work all day, from very early in the morning when she receives her produce from the producers, until nighttime when her customers do their shopping. She supplies this tuber to different markets, such as hotels, restaurants, and supermarkets, and she also sells them directly retail. This time, our member will use her loan to capitalize her business and she will buy different types of potatoes wholesale in order to cover her market and her demand.
Teresa is very thankful to Kiva for allowing her to maintain her business and support her children and her home.
Teresa está muy agradecida con KIVA por permitirle mantenerse con su actividad y llevar el sustento a sus hijos y a su casa.
Previous Loan DetailsThe loan recipient belongs to the village bank "Virgen Asunta de Rasca" located in the district, province and department of Cusco. Teresa Gerarda, 34, lives with her husband and 2 children. She sells potatoes in the market in Huancaro from 7:00am until 6:00pm. She has a stall where she sells d... More from Teresa Gerarda'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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