Reyna Del Carmen Group
Update on Reyna Del Carmen GroupA group of neighbors and friends have formed the “Reyna del Carmen” Communal Bank in the town of Cusco. This Communal Bank has been working for a few years already, and it is well organized. This Communal Bank is composed of ten people who are constantly looking for chances to get ahead, and to offer a better future to their children thanks to their daily efforts. Some of the economic activities of the members are: food sale, cooking gas sale, shoes sale and handicrafts, while others engages in providing services of different kind.
Livia (who is the one with her hand raised in the picture) was born in Puno, a town of the Puno department, but she live in the lovely city of Cusco. She is 27 years old, she lives in a common-law marriage and she has two children. Her main economic activity is selling basic necessities such as rice and sugar among other things. In this occasion Livia is asking for a loan to buy products at wholesale price, being it cheaper for her to do so. She will buy bags of sugar, bags of rice, milk boxes and other products she needs in her shop. Livia’s goal is to run her own shop and that her children can become professionals.
All the members arte grateful for the chance they have been offered, and they commit to complying with the repayment of their dues according to the set schedule.
Cusco is located in the district and province of Cusco, in the heart of the ancient Incan town. Cusco is a tourist area, renowned for its archeological sites, its historical center, its landscapes, its history, for Inti Raymi, a traditional celebration, and because here on can visit “Machupicchu”, one of the seven wonders of the world.
(One member appears in the lower part of the picture because he arrived late at the meeting).
Un grupo de vecinos y amigos formaron el banco comunal “Reyna del Carmen
(La señora Livia está levantando la mano en la fotografía). La señora Livia nació en la ciudad de Puno en el departamento de Puno pero vive en la encantadora ciudad del Cusco, tiene 27 años de edad, tiene una relación de unión libre de la cual tiene dos hijos. Su actividad económica principal de la socia Livia es la venta de productos de primera necesidad como por ejemplo arroz, azúcar y otras cosas. En esta oportunidad Livia requiere el préstamo para comprar al por mayor pues le sale más barato por lo tanto comprará sacos de azúcar, sacos de arroz, cajas de leche y otras cosas más que faltan en el negocio. Su anhelo de la socia Livia es tener una tienda propia y que sus hijos se han profesionales.
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. Cusco se caracteriza por ser una zona turística, por sus centros arqueológicos, por su centro histórico, por sus paisajes, por su historia, por su fiesta tradicional del Inti Raymi y porque se encuentra una de las siete maravillas del mundo “Machupicchu”.
(El socio que aperece en la parte inferior de la fotografia llego tarde a la reunion).
Previous Loan DetailsThese members belong to the "Reyna del Carmen" communal bank, located in the Cusco district in the province and department of Cusco. Cristina is forty-six, lives with her partner, has four children, and has a ceviche business. She sells ceviche, a fish dish, from her mobile cart. She works… More from Reyna Del Carmen 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