Nuevo Progreso De Andahuaylillas Group
One member of the group, Luz Marina, is 39 years old. She lives with her spouse and two children. She was born in Andahuaylillas and still lives there today. Luz Marina has been selling meat and potato kabobs in the Andahuaylillas market for six years. She will use her loan from Arariwa to improve this business.
Most of the members of Nuevo Progreso de Andahuaylillas are involved in food sales. Some, like Luz Marina, sell kabobs in markets, while others own small grocery stores or raise and sell animals. Leonardo has been raising hens for nine years. The group members will use their loans to improve their businesses in the food and animal sectors.
All of the group members appreciate and thank you for the loan. They promise to repay the monthly payments on time.
(All of the group members were present in the meeting, but two do not appear in the video.)
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