Fernando is 22 years old and works in computer maintenance and repair. A loan will help him purchase tools such as screwdrivers and aerosol spray to be used in computer repair. In the future, Fernando would like to open a stand where he can offer technical services. And, in the long run, he hopes to complete his degree in hotel administration and open a small business such as a travel agency or a car rental service.
Fernando is receiving an individual loan as a member of the village bank "El Sr de los Temblores III" in Cusco, which is located in the Andean mountains at 3,400 meters above sea level. The bank is in its first cycle with Asociación Arariwa, although some group members were previously members of other village banks.
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).