Manuel is a 43-year-old carpenter who has four children with his partner. His eldest child is 20 years old and the youngest just one month old. Manuel has been producing furniture for about five years. He is requesting a loan to buy materials such as wood, paint, and nails. Right now, his business is quite small; he produces four pieces per week. He hopes that continued investment will allow him to increase the pace of production and expand his clientele.
Manuel is receiving an individual loan as a member of the village bank "Vallecito" in Cusco, which is located close to the Incan ruins of Macchu Picchu in the Andean mountains. The bank is in its 17th cycle with Asociación Arariwa.
About 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).