Virgen Del Rosario De San Sebastian Group
Update on Virgen Del Rosario De San Sebastian GroupA group of neighbors and friends formed the “Virgen del Rosario de San Sebastián” communal bank several years ago. This communal bank has 13 members who seek opportunities at every moment to get ahead and through their daily efforts provide a better future for their children. Some examples of the types of commercial activities of the members are: crafts sales, wood furniture sales, food sales and others provide services.
Sabina is raising her hand in the photo. She was born in the city of Puno but currently lives in the beautiful city of Cusco. She’s 27 years old, married and has three children. Sabina’s economic activity is making and selling cheese; she also has a pizzeria. On this occasion, she needs the loan to buy supplies to make cheese.
The members in general are grateful for the opportunity provided and commit to make their installment payments as scheduled.
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 very touristy area because of its archaeological sites, its historic city center, for its scenery and its history and for being an enchanting city in the southern region of the country. Cusco is noted for being a very touristy, commercial zone, for its traditional Inti Raymi festival and because one of the seven wonders of the world, Machupicchu, is located here.
(La socia Sabina está levantando la mano en la fotografía). La socia Sabina nació en la ciudad de Puno pero actualmente vive en la hermosa ciudad del Cusco, tiene 27 años de edad y es casada y fruto de esta unión tiene tres hijos. Su actividad económica principal de Sabina es la produccion y venta de Queso y también tiene una pizzería. En esta oportunidad Sabina requiere el préstamo para comprar insumos para producir queso.
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. Cusco es conocido por ser una zona muy turística, comercial, por su fiesta tradicional del Inti Raymi y porque se encuentra una de las siete maravillas del mundo “Machupicchu”.
Previous Loan DetailsThe Virgen del Rosario de San Sebastian Group, which is currently in its thirteenth loan cycle, is comprised of 14 hard-working and enterprising people who are always looking for the opportunity to get ahead in life. They make great efforts to provide their children with a better future. This… More from Virgen Del Rosario De San Sebastian 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