Prosperemos- Cusco Group
Update on Prosperemos- Cusco GroupThis member is Christina. She is 49 years old and is married. She has 2 children who are both grown. She has a kiosk where she sells sweets, soft drinks, ice creams, cookies, and sandwiches, among other types of snacks. She also sells tickets for the zoo. A couple of years ago, she and her husband decided to open a zoo on their property, taking advantage of the archaeological park of Tipón that is located just a few meters from their property. Christina, along with her husband and their children decided to gather abandoned animals and they now have 95 species of native animals, including condors, bears, tortoises, deer, alpacas, snakes, Andean pumas, foxes, and many more. She has a beautiful piece of land on which she has put the animals and it allows her to spread out them out. She wants to invest this loan in buying snacks, soft drinks and other small products for her kiosk. She is new in the group and wants to continue growing.
The other members of the do work like providing lodging, restaurant services, running their own grocery stores, national police, crafts, and clothing sales.
Los otros socios del banco realizan actividades como, atención en hospedaje, en restaurante, administración de sus tienda de abarrotes, policía nacional, artesanía, venta de ropa.
Previous Loan DetailsThis member belongs to the “Prosperemos- Cusco” (We Shall Prosper- Cusco) communal bank. The bank is in Huanchac District, in Cusco Province and Cusco Department. The member is Felicitas; she is 46 years old, married, and has three children. She works in her grocery store. Felicitas has her own ... More from Prosperemos- Cusco 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