Update on ValentinaThis member is Valentina, who belongs to the "Virgen Asunta de Calca" communal bank of the province of Calca del Cusco, Peru. Valentina still prepares and sells food in a stall located in the main market of her community. Valentina has a daughter who's studying medicine in Bolivia, and she works hard and makes sacrifices in order to pay for her education. That's why Valentina is requesting a loan so that she can pay for her daughter's studies. Valentina is very thankful to Kiva for helping her with her daughter's education.
Previous Loan DetailsThe member continues to work in food sales. She sells roasted chicken, soups, and fish at the market. She works from 6:00 a.m. until 3:00 p.m. and she has spent the past five years in this business. The member, thanks to this business, wants to help out her children, and her dream is to have a... More from Valentina'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