Jardines De La Luz Group
Update on Jardines De La Luz GroupCommunal bank member Ana Paula is single and is 19 years old. Through a transfer, she has taken over a snack stand and cafe located in the same cemetery. She has a great desire to grow and continue prospering, and for this she is making a great effort so that she does well in her businesses, and thus she is studying what products in her stand and cafe generate sales. At this time she wants to invest in the purchase of products such as soft drinks, fruit juices, snacks, sandwiches, sugar, candies, and crackers, among other items. She is applying for the loan to invest in the purchase of products to set up her cafe and stand.
In the photograph, she is in the upper part at one side because there was no light on the same premises, so we had to go out to the main street.
The other members continue with their work as cemetery workers and one with a florist business.
La socia se encuentra situada en la parte superior a un costado de la fotografia porque no habia luz en el mismo local razon por la que tuvimos que salir a la avenida principal.
Los otros socios siguen con su negocio de floreria y los demas con su labor de panteoneros.
Previous Loan DetailsThis member belongs to the communal bank "JARDINES DE LA LUZ" which, because it is new, is a small group just starting to obtain loans and hoping to grow. It is located in the city of Cusco in the district of Poroy, inside a cemetery by the same name in the province and department of Cusco. O... More from Jardines De La Luz 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