Las Tigresas Group
Ruth is the president of our group. She lives with her spouse and three children in Cusco. Ruth has been selling breakfast at a stand in the market for nine years. Her husband works afternoons and nights as a taxi driver and helps Ruth run her stand in the morning. Ruth needs a loan to improve her stand and to help get her through the Christmas season. Her New Year's resolution is to save enough money next year to build a house.
Most of the members of Las Tigresas sell food. Some, like Ruth, sell meals in the market, while others sell cheeses, fruit juice, or sell food wholesale. The group members will use their loans to improve their businesses and for personal uses, such as paying for improvements to their homes, or paying for their children’s education.
All of the group members appreciate and thank you for the loan. They promise to pay the monthly payments on time.
(All but two of the group members appear in the video, which shows a group member toasting the coming New Year during the first meeting of the communal bank.)
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