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Virgen Asunta De Racsa Group
In this Group: Saturnina, Francisca, Eulalia, Guillermo, Angelica, Maria Elena, Jose Hugo*, Antonieta Gladis, Gloria, Melvyn Mijael, Wilbert
* not pictured
Our members belong to the “VIRGEN ASUNTA DE RACSA” communal bank. The bank is made up of 11 members and it is new. The members are residents of Cusco province. Most of them have independent stalls in the "Virgen Asunta" market but with similar lines of work. The "Virgen Asunta" market is three years old. The group meetings are held in Angelica's stand. Our members alternate their various domestic chores with sales of potatoes, sacks, and grains. Marianela, for example, sells grains like corn, kidney beans, barley, wheat, etc. Antonia sells potato sacks. Most of the members sell wholesale potatoes; they distribute their potatoes to the other municipal markets. The members are asking for financing to use as working capital so that they can increase their products and sales thereby providing their families with improved quality of life. The members value and appreciate the loan granted and pledge to repay in a timely fashion. (The member José did not attend the meeting due to work obligations so does not appear in the photo. He did, however, ask the governing board of the communal bank for permission to be absent).
View original language description ↓
Nuestros socios, pertenecen al banco comunal “VIRGEN ASUNTA DE RACSA”. El banco comunal esta conformado por 11 socios y es nuevo. Los socios radican en la provincia del Cusco. La mayoría de ellos tienen un stand independiente en el mercado “Virgen Asunta” pero con actividades de trabajo similares. El mercado “Virgen Asunta” tiene 3 años de fundación. La reunión de las socias se hace en el stand de la socia Angelica.

Nuestros socios alternan sus diversas actividades del hogar con la venta de papas, bolsas, granos. La socia Marianela se dedica a la venta de granos como maíz, fréjoles, habas, cebada, trigo, etc. Las socia Antonia se dedica a venta de bolsas para empaquetar papas. La gran parte de la socias y socios se dedican a la venta de papas al por mayor, ellos distribuyen papas a todos los demás mercados de la cuidad.

Los socios solicitan el préstamo para que lo utilicen como capital de trabajo y de esta manera incrementar sus productos y aumentar sus ventas, para dar mejor calidad de vida a sus familias.

Los socios valoran y agradecen el préstamo otorgado mediante este medio y así mismo se comprometen a cumplir con el pago de sus cuotas en el plazo establecido.

(El socio José no asistió a la reunión por motivos de trabajo y no aparece en la fotografía, pero pidió permiso a la junta directiva del banco comunal).

Additional Information

Important Information

About 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.

About Peru

  • $12,000
    Average annual income
  • 110
    View loans »
    Peru Loans Fundraising
  • $57,345,725
    Funds lent in using Kiva
  • 2.9
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A portion of Virgen Asunta De Racsa Group's $3,275 loan helped a member to increase purchase and sale of potatoes.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 19, 2009
Listed
Nov 19, 2009
Currency Exchange Loss:
Covered
Ended:
Apr 15, 2010