Update on CarmenThe borrower continues with her grocery store selling basic staple items like rice, sugar, milk and cookies. She’s been in business six years and works from 8am until 10pm. Her dream is to expand the grocery store and by means of it raise her children so that they can become professionals. She’s requesting the loan to buy rice, sugar, milk, cookies and oil at wholesale. She’s happy with the loan and commits to make her payments.
La socia está feliz por el préstamo y se compromete a cumplir con los pagos de su cuota.
Previous Loan DetailsCarmen is 58 years old and married with five daughters and one son. She is the owner of a small grocery store where she sells a little bit of everything. A large portion of her profits comes from selling large bags of sugar, rice, and flour. Carmen is asking for a $400 loan in order to purchase m... More from Carmen'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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