María Lorenza is part of the Los Diamantes communal bank. This bank, whose name means “The Diamonds” in English, consists of 32 members all hailing from the Cuzco area. María Lorenza is a 49-year-old mother of three who is separated from her spouse. She lives in the city of Cuzco. Two of her children are currently studying in local universities.
María Lorenza makes a living selling food from a small kiosk on the street. Here she sells soups and other lunch items. On Sundays, she also engages in the buying and selling of grains. María Lorenza says that she will use her Kiva loan for two things: to help grow her small business and to pay for her children’s studies.
María Lorenza is appreciative and thankful for the loan, and promises to pay the monthly payments on time.
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).