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In this Group: Ruth Mery, Jorge, Felipe, Antoquia, Vicente*, Jhonn, Elias, Eugenia Honorata, Neftali, Jose Antonio, Carmen Rosa
* not pictured
It all started one night when I spoke with a loan analyst, Ferdinan, in order for us to visit the Riqchary Huarmimasicuna Communal Bank. Our destination was the town of Kiteni, Echarate district, La Convención province, Cusco department in Perú. The town of Kiteni is eight hours from the city of Quillabama.

The Riqchary Huarmimasicuna Communal Bank has been operational for five years. It is comprised of hard-working and enterprising people who, at every moment, are seeking opportunities to get ahead. Through their daily efforts they are looking to give their children a better future. The majority of the inhabitants devote themselves to commerce, livestock, and farming. The communal bank meets once a month in the town of Kiteni. This is where we met a member, Ruth Mery.

Ruth Mery tell us, “I was born in the city of Kiteni. I am 23 years old. I do not yet have children, but I will soon be a mother. I live in the city where I was born and where my primary business activity is selling food.” Ruth Mery has a small restaurant where she sells breakfast, lunch, and dinner. At the moment the business is incapacitated because they are refurbishing the place.

She has been in the business for one year, and it is going very well for her thanks to the effort she puts into her work. At this time Ruth Mery is working in a laundry washing clothes from seven in the morning until midday on Mondays through Fridays.

Her father invited her to participate in the communal bank. Her first loan was for 800 soles, and she used it to buy supplies. This time she needs the loan to equip her restaurant, and she wants to buy chairs, tables, and utensils.
View original language description ↓
Todo empezó una noche en el cual me comunicaron con el analista de crédito Ferdinan para realizar un viaje donde visitaríamos al banco comunal “Riqchary Huarmimasicuna” y nuestro destino era el poblado de KITENI, distrito de Echarate provincia de La Convención del departamento del Cusco, Perú. El poblado de Kiteni está ubicado a 8 horas de la ciudad de Quillabamba.

El banco comunal “Riqchary Huarmimasicuna” tiene 5 años de funcionamiento y está conformado por personas que 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. La mayoría de los pobladores se dedican a actividades de comercio, ganadería y agricultura. Las reuniones del banco comunal son cada treinta días en el poblado de Kiteni y donde conocimos al socia Ruth Mery.

Ruth Mery nos cuenta: “Nací en la ciudad de Kiteni, tengo 23 años edad y todavía no tengo hijos pero muy pronto seré mamá y vivo en la ciudad donde nací y donde mi actividad principal es la venta de comida”.
Ruth Mery tiene un pequeño restaurante donde sirve desayuno, almuerzo y cena pero por el momento el negocio está paralizado porque el local lo estan refaccionando. Ya es un año que se dedica al negocio y le va muy bien gracias al empeño que pone en su trabajo. Ruth Mery por el momento está trabajando en una lavandería lavando ropa desde las 7 de la mañana hasta el medio día de lunes a viernes. Su padre le invito a participar en el banco comunal y su primer crédito fue de S/. 800 nuevos soles y lo utilizó para comprar insumos. En esta oportunidad requiere el préstamo para implementar su restaurante y desea comprar sillas, mesas y utensilios.

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
  • 90
    View loans »
    Peru Loans Fundraising
  • $59,005,925
    Funds lent in using Kiva
  • 2.7
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A portion of Riqchary Huarmimasicuna Group's $3,125 loan helped a member to equip her restaurant and buy chairs, tables, and utensils.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Jul 16, 2011
Jul 23, 2011
Currency Exchange Loss:
Jan 15, 2012