Nueva Generacion Iii Group
Update on Nueva Generacion Iii GroupA group of neighbors and friends formed the Nueva Generación III Communal Bank several years ago in the city of Cusco. As such, they are currently in their nineteenth loan cycle. This communal bank is made up of seven women and seven men who are working and enterprising people who are constantly seeking out opportunities to get ahead and, with their daily efforts, to provide their children with a better future. Some examples of the female members' businesses are the following: selling breakfast, selling prepared food, selling iron products, selling shoes, selling food, selling barbecued chicken, and selling sweaters.
Elva is part of the communal bank. She is married and her beautiful relationship has produced two children, who are still her dependents. Elva proudly tells us that she is getting her children ahead with the help of her spouse. Elva is a teacher and she has been practicing her profession for five years, but in her free time she sells shoes. At the moment, Elva needs this loan to buy shoes.
All of the members are thankful for the opportunity offered to them and they promise to make their respective loan payments on time. Cusco is located in the district and province of Cusco in the department of Cusco, right in the heart of the ancient city of the Inca. It is known for being a tourist attraction because of its archeological centers, its historic downtown area, its landscapes, its history, and for being a charming city in the southern region of the country.
(The member shown in the lower part of the photo asked permission to be absent on the day of this meeting.)
Elva forma parte del banco comunal, es casada y fruto de esta hermosa relación tiene dos hijos de la cuales los dos todavía depende de la socia. Elva nos cuenta con mucho orgullo que está sacando adelante a sus hijos y con ayuda de su pareja. Elva es docente y hace 5 años que ejerce su profesión pero en sus horas libres se dedica a la venta de zapatos. En esta oportunidad Elva requiere el préstamo para comprar zapatos.
Los socios en general agradecen la oportunidad brindada y se comprometen a cumplir con el pago de sus diferentes cuotas en los plazos establecidos. Cusco está ubicado en el distrito y provincia del Cusco del departamento del Cusco en pleno corazón de la antigua ciudad de los Incas y se caracteriza por ser una zona turística por sus centros arqueológicos por su centro histórico por sus paisajes por su historia y siendo una ciudad encantadora de la Región del Sur del país.
(El socio que aparece en la parte inferior de la fotografia pidio permiso para no estar presente el dia de la reunion)
Previous Loan DetailsThe Communal Bank “Nueva Generacion III” (New Generation III) is currently in its thirteenth loan cycle and consists of twelve hardworking and enterprising individuals who view each moment as an opportunity to get ahead. Through their daily efforts, they are able to provide a better future for th... More from Nueva Generacion Iii 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