La Amistad Group
The members work on different activities, most of them work on public transportation that cover all the city of Cusco, this is why they request the loan because they need to buy car insurance for each vehicle, other members need the loan to buy paint and clay to create handicrafts. One of them has a dream of some day be able to rent a place at the central market in Cusco to sell his handicrafts, other members sell clothes that they bring from Bolivia, another member has a small restaurant and request the loan for her business.
The members value and are thankful for the loan and commit to pay their debt on the time determined.
El banco comunal “LA AMISTAD”, Está conformado por 14 miembros, todos ellos naturales del Cusco, y este banco se encuentra ubicado en el local principal de la Organización de bancos comunales ARARIWA.
Los socios se dedican a diferentes actividades, un porcentaje mayor tiene transporte público destinado a cubrir rutas dentro de la ciudad del Cusco, para lo cual solicitan el préstamo en razón de que necesitan comprar un seguro de vida para cada carro, otros miembros requieren el préstamo para poder comprar, barniz, pintura, arcilla, para elaborar artesanía, uno de ellos tiene el sueño de poder alquilar un día un local en la plaza central de Cusco y poder vender sus artesanías, otras socias venden ropa que traen desde Bolivia, otra socia tiene un pequeño restaurante y solicitan el préstamo para poder implementar su negocio.
Los socios valoran y agradecen el préstamo otorgado y se comprometen en el pago de toda su deuda en el plazo determinado.
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).
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid