Virgen Del Rosario Del Cusco Group
Update on Virgen Del Rosario Del Cusco GroupThe members belong to the “Virgen Del Rosario Del Cusco” communal bank located in Cusco District belonging to Cusco Province and Department.
The member is Margarita, 64. She has five children. She works in her dry goods, like wheat, barley and corn, business. She sells from place to place from 6am until 5pm. She is able to support her children by means of this business. Her dream is to have a locale where she can sell her dry goods.
She’s asking for the loan to buy wheat, barley and corn.
The other members are in crafts, sell traditional fabric, sell grass and run grocery stores.
The members thanks those who form part of this dream through his means and commits to make her payments according to the established schedule.
La socia es la Sra. Magdalena ella es viuda y tiene 64 años y tiene 5 hijos; La socia trabaja con su negocio de productos secos como trigo, cebada y maíz, la socia vende en forma ambulatoria desde las 6:00 a.m hasta las 5:00 p.m, por medio de este negocio la socia saca adelante a sus hijos, el sueño de la socia es tener un local donde pueda vender los productos secos. La socia solicita el préstamo para comprar trigo, cebada y maíz.
Los otros socios se dedican al negocio de artesanía, negocio de venta de tejidos, negocio de venta de pasto y negocio de tienda de abarrotes.
La socia agradece a quienes forman parte de este sueño mediante este medio y se compromete a cumplir con el pago de sus cuotas en el plazo establecido.
Previous Loan DetailsFelicia tells us, “We have 13 members (12 women and 1 man) in our communal bank, Virgen del Rosario del Cusco. Our meetings are every 30 days in the central office of the Asociació Arariwa headquarters in Cusco. They elected me to represent the communal bank in order to tell about my main econo... More from Virgen Del Rosario Del Cusco 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