Kantu San Jerónimo Group
Members include housewives who run small businesses such as general stores and daycare centers from their homes. They plan to buy merchandise for their businesses or to fix up their homes with the money. Griselda, the newest member, is a part-time university student who studies psychology and needs the loan to help finance her education.
David is the current president of Kantu San Jerónimo. He has three children and runs a metal carpentry shop for producing things such as furniture, doors, stairwells, and window frames. He wants to purchase new machinery for his store with this loan.
The group met at Arariwa headquarters in Cusco to discuss the terms and conditions of their loan. They are committed to paying it back on time and are grateful to have access to the capital needed to run their businesses.
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