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Progreso Group
In this Group: Josefina, Veronica, Simeona, Yeni Pilar, Carlota, Paulina, Bertha, Yaklin Yessica, Susana, Feliciano, Ibet, Karina, Martha, Gertrudes, Judith, Cristobal
The “PROGRESO” communal bank composed of 14 hard-working, enterprising members, who are always looking for opportunities to get ahead in life and offer their children a better future through their own efforts, is currently in its 6th loan cycle. It is represented by its president, Bertha, its secretary, Susana and Yeni Pilar, treasurer. Members meet every 30 days in the Asociación Arariwa’s microfinance unit’s offices.

Members are involved in a variety of commercial activities, such as the sales of: snacks, cosmetics, videos and CDs, food, clothing, soups and healing creams, oil paintings. Others work as kitchen helpers and stevedores.

The bank has had several loan cycles and, as the members state, they are happy and satisfied with credit services, savings and training and the length of time the bank has been in existence.

Josefina is 57 years old, married and a member of “Progreso.” She peddles prepared meals at an industrial park in Cusco. She rises at 2am to prepare her meals and then goes out to sell them from 6am until 10am daily. In the afternoon, from 2pm until 4pm, she does her marketing to buy the ingredients for next day’s meals.

She has been in this line of work for 12 years now and does well thanks to the efforts she puts into it. She used to have an eatery near the Coca-Cola bottling plant but she didn’t fare well and had to leave that location. Currently, she sells from a portable cart. She needs funds to buy rice, sugar, pasta, cooking oil and potatoes.

The members as a group are grateful for the opportunity they have been given and pledge to repay in a timely fashion.

Cusco is a city famous for its archaeological sites, its historic city center, its scenery and its history being an enchanting city in the south of the country.
View original language description ↓
El banco comunal “PROGRESO”, actualmente se encuentra en el VI ciclo y está conformado por 14 personas trabajadoras y emprendedoras que buscan a cada momento las oportunidades para salir adelante y con su esfuerzo diario entregar un mejor futuro a sus hijos. El banco comunal está representado por la socia Bertha que es la presidenta, Susana que es la secretaria y Yeni Pilar que es la Tesorera. Las socias se reúnen cada treinta días en las oficinas D. la unidad D. micro finanzas D. la Asociación Arariwa.

Las actividades económicas D. los socios a las que se dedican son por ejemplo: venta D. golosinas, venta D. cosméticos, venta D. videos y cd’s, venta D. comida, venta D. ropas, venta D. caldos y emolientes y venta D. cuadros D. oleo y otros socios ofrecen servicios D. ayudante D. cocina y estibador. El banco comunal tiene varios ciclos D. funcionamiento, como manifiestan las socias, las socias se encuentran contentas y satisfechas con los servicios D. crédito, ahorro y capacitación y por el tiempo D. permanencia en el banco comunal.

Josefina forma parte del banco comunal “Progreso”, tiene 57 años D. edad y es casada. Ella se dedica a la venta D. comida D. forma ambulatoria en la zona del parque industrial D. la ciudad del Cusco. Josefina se levanta a las 2 D. la madrugada para preparar sus platos D. comida y despues lleva a vender todos los días a las 6 a.m. D. mañana y se queda hasta las 10 a.m. Por las tardes, ella a partir D. las 2 p.m. hasta las 4 p.m. se va a comprar al mercado sus insumos al mercado para preparar sus platos D. comida para el día siguiente. Ya son 12 años que se dedica a la venta D. comida y le ha va muy bien gracias al empeño que pone en su trabajo. Antes ella tenía un restaurante cerca a la empresa “Coca Cola” pero le fue muy mal y tuvo que retirarse del lugar. Actualmente, Josefina tiene un puesto D. venta D. forma ambulatoria. Josefina requiere el préstamo para comprar arroz, azúcar, fideos, aceite y papa.

Los socios en general agradecen la oportunidad brindada y se comprometen a cumplir con el pago D. sus diferentes cuotas en los plazos establecidos. Cusco es una ciudad que se caracteriza por sus centros arqueológicos, su centro histórico, sus paisajes, su historia, siendo una ciudad encantadora D. la Región Sur del país.

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
  • 99
    View loans »
    Peru Loans Fundraising
  • $57,944,700
    Funds lent in using Kiva
  • 2.8
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A portion of Progreso Group's $4,925 loan helped a member josefina needs funds to buy rice, sugar, pasta, cooking oil and potatoes.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 13, 2010
Listed
Apr 13, 2010
Currency Exchange Loss:
Covered
Ended:
Aug 15, 2010