Warmicuna Llanqanchis Group
Update on Warmicuna Llanqanchis GroupThe 'Warmicuna Llanqanchis' community bank has eleven members: ten women and one man. Most of the members are friends, work colleagues and neighbors who have a good friendship. Some of the members live in the city of Cusco and others live in the city of Anta.
The members are all workers and entrepreneurs who are always looking for opportunities to make progress in life and, through their daily efforts, provide their children with a better future. Most of the members work in different business activities such as raising animals, selling cosmetics, selling vegetables, selling handicrafts and selling food products. Others provide services.
Luciana is a member of this group. She is 45 years old, married, and has four children from her marriage. She was born in the city of Anta and still lives in the city. Her business activity is selling vegetables but she also raises guinea pigs. On this occasion, Luciana needs a loan to buy guinea pigs.
n.b. The members appear in two different groups because they unanimously decided to have a meeting for one time and one time only in the cities of Cusco and Anta. The member who appears at the bottom of the photo requested permission from the community bank's board to be absent on the day the loan was disbursed.
The members are grateful for the loan and value it. They pledge to make their repayments on time.
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. La mayoría de los socios se dedican a diferentes actividades económicas como crianza de animales menores, venta cosméticos, venta de verduras, venta de artesanía, venta de comestibles y otros brindan servicios.
La socia Luciana tiene 45 años de edad, es casada y frutos de esta unión tiene cuatro hijos, ella nació en la ciudad de Anta y vive en la misma ciudad donde nació. Su actividad económica de Luciana es la venta de hortalizas pero también se dedica a la crianza de animales menores como por ejemplo cuyes. En esta oportunidad Luciana requiere el préstamo para comprar animales menores como cuyes.
(Los socios aparecen en dos grupos diferentes porque decidieron por unanimidad que la reunión por única vez y ultima vez se han en la ciudad del Cusco y Anta).
(La socia que aparece en la parte inferior de la fotografía pidió permiso a la junta del banco comunal para no estar presentes el día del desembolso.)
Los socios agradecen y valoran el préstamo otorgado mediante este medio y se comprometen en cumplir con el pago total de sus deudas en el plazo establecido.
Previous Loan DetailsThe Warmicuna Llanqanchis Communal Bank is currently in their ninth cycle. The members’ meetings are held once a month in the offices of the Asociación Arariwa in the Anta province. The communal bank is comprised of 15 hard-working and entrepreneurial people who are looking every minute for the… More from Warmicuna Llanqanchis 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