Sumac Puririsun Group
Update on Sumac Puririsun GroupA group of neighbors and friends formed the “Sumac Puririsun” communal bank several years ago in the city of Cusco so they are now in their 8th cycle. The communal bank is composed of 14 hardworking, enterprising women who always seek opportunities to get ahead with their daily efforts in order to provide their children with better futures. The economic activities of the members are varied. For example: tamale sales, food sales, ‘mazmorra morada’ [purple corn based sweet] sales, juice sales, food sales and crafts sales.
Cusco is located in the district and province of Cusco in Cusco department in the very heart of the ancient Inca city. It’s noted for being a tourism zone and for its archaeological centers and for its historical city center, its scenery, its history and for being an enchanting city in the southern part of the country.
Presentación is part of the communal bank. She’s married and her beautiful relationship has produced three children one of which is independent and the others are still dependent on her. Presentación tells us very proudly that with help from her spouse she’s moving her children ahead.
Her economic activity is washing clothes by hand at her customers’ homes and also cleaning houses. On this occasion, Presentación needs a personal use loan, that is, to pay for her children’s schooling.
The members in general are grateful for the opportunity provided and commit to make their various installment payments according to the payment schedule.
Presentación forma parte del banco comunal, es casada y fruto de esta hermosa relación tiene tres hijos de la cuales uno es independiente y los demás todavía depende de la socia. Presentación nos cuenta con mucho orgullo que está sacando adelante a sus hijos y con ayuda de su pareja. Su actividad económica de Presentación es el lavado de ropa a mano a domicilio y también a la limpieza de casas. En esta oportunidad Presentación requiere el préstamo para uso personal ósea para la educación de sus hijos.
Las socias en general agradecen la oportunidad brindada y se comprometen a cumplir con el pago de sus diferentes cuotas en los plazos establecidos.
Previous Loan DetailsThe “Sumac Puririsun” communal bank is currently in its third loan cycle. It is made up of hard-working and enterprising people who are always looking for opportunities to get ahead and to give their children a better future through their daily efforts. The communal bank's meetings are held every... More from Sumac Puririsun 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