Update on Mollecato GroupThe member is Sra. Francisca C.. She is 49 years old and married. She makes food. The member has a small stall located in the main square of Urcos. She belongs to an association and every day from early in the morning she takes her hot pots, plates and cutlery to sell the various dishes she prepares very early in the morning. The member is a very hardworking person. Her daughter, who is also a mother, is a member of her group and she teaches her to work and save. The member wants her children to be properous business people and she works hard to set them an example and also help them with their studies and their own businesses. The member belongs to the Asociación Inmaculada Concepcion; on this occasion, the member wants a loan to invest in the purchase of ingredients and consumables to make her lunches. She will buy wholesale: rice, sugar, oil, noodles, among many other products that need ordering now. The member is requesting a loan to invest in the purchase of consumables and ingredients such as rice, sugar, noodles, oil.
Las tres socias que estan en la parte superior de la foto grupal son la Sra.Tomasa, La Sra. Catalina, La Sra. Agusta; las socias no se ven bien en la foto de grupo y se les tomo a las tres solas para anexarlas.
Los otros socios se dedican a diferentes actividades como la de la agricultura, ganadería, comercio minorista, venta de comidas dentro de una asociacion, crianza de animales menores entre otras pequeñas.
Previous Loan DetailsThe members belong to the communal bank "MOLLECATO," which is located in the district of Urcos, belonging to the province and department of Cusco Quispicanchis. The featured member is Augusta, 49 years old, who is a widow and has 6 children. She works in the business of buying and selling corn,… More from Mollecato Group's previous loan »
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).
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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