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Amigos Del  Milenio Group
In this Group: Bertha, Nayut, Emma Carmelina*, Martha, Emma Lucrecia, Raquel*, Mercedes Rebeca, Sonia Rufina, Wagner Vidal, Rocio Eusebia, Juan Jorge, Lisset
* not pictured
The comunal bank, "Amigos del Milenio" (Friends of the Millenium) has 13 working cycles ( each cycle is 4 months); the comunal bank is maD. up of 10 women and 2 males. The group meets every 30 days at the central offices of the Arariwa Association in the city of Cusco. Most of the group's members live in the various districts of Cusco.

The members are hard-working and entrepreneurial and are searching for opportunities to get ahead and with their daily efforts be able to proviD. a better future to their children. As an example, some of the business activites of the members are: selling vegetables, snacks, ornaments, and groceries. Other members proviD. services such as: internet cafes, accountancy, credit analysts, and an employee at a print shop.

Bertha is a member, she is 53 years old, married and lives with her husband and 3 children in the San Sebastian district. Bertha's primary business activity is selling groceries and she does so from her own store located at her residence. She has been in the business several years with success and can be found at her place of business, Monday-Sunday from 6AM until 9PM. Bertha will be utilizing the loan as working capital for the business and wants to purchase goods such as; rice, noodles, milk, sugar, and much more.
View original language description ↓
El banco comunal “Amigos del Milenio” tiene 13 ciclos D. funcionamiento (cada ciclo son 4 meses), el banco comunal está conformado por 10 mujeres y 2 varones. Las reuniones del banco comunal son cada treinta días en la oficina central D. la Asociación Arariwa D. la ciudad del Cusco. La mayoría D. los socios viven en los diferentes distritos D. la ciudad del Cusco.

Los socios son trabajadores y emprendedores que buscan a cada momento las oportunidades para salir adelante y con su esfuerzo diario entregar un mejor futuro a sus hijos. Las actividades económicas D. algunos D. los socios a las que se dedican son por ejemplo; venta D. verduras, venta D. condimentos, venta D. pasamanería y venta D. comestibles. Otros socios se dedican a brindar servicios D. café D. internet, contabilidad, empleada D. una tienda D. imprenta y analista D. créditos.

La socia Bertha, tiene 53 años y está casada. Actualmente, Bertha vive junto con su esposo y sus tres hijos en el populoso distrito D. San Sebastián. Su actividad económica principal D. Bertha es la venta D. comestibles, ella venD. sus productos en su propia tienda que está ubicada en su domicilio, se la pueD. encontrar a la socia en su negocio D. lunes a domingo desD. las 6 D. la mañana hasta las 9 D. la noche. Ya son varios años que se dedica a este negocio y le va muy bien. Bertha va invertir el préstamo en el capital del negocio y desea comprar más mercadería como por ejemplo arroz, fideos, leche, azúcar y muchas cosas más.

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
  • 104
    View loans »
    Peru Loans Fundraising
  • $57,923,600
    Funds lent in using Kiva
  • 2.8
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A portion of Amigos Del Milenio Group's $3,375 loan helped a member to purchase merchandise such as: rice, noodles, milk, sugar, and much more.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 14, 2011
Listed
Jan 17, 2011
Currency Exchange Loss:
Covered
Ended:
Jun 15, 2011