Update on Lucero GroupA group of friends and neighbors formed the community banking group “Lucero” in the district of Cusco. This community bank was created by nine people who are all looking at every turn for opportunities to get ahead and with their daily strength to bring about a better future for their children. The economic ventures of the group members are, for example, fertilizer sales, sales of craft items, sales of wooden furniture, candy sales, food sales, sales of cosmetics, and others offer their professional services as a nurse, a teacher, and an electrician.
(Ines is the group member is raising her hand in the photo.) Ines was born in the city of Lima but currently resides in the beautiful city of Cusco. She is married, and the fruits of this beautiful union have been two children. Her principle commercial activity is the administration of a small business selling the arts made by her partner. Her spouse is an artist and creates paintings of Cusco like passages, children, young women, vistas of Cusco's city streets, and more images, as his imagination permits. It's been years now since they began this work together, and it has gone very well for them. In this venture, Ines requires a loan to buy materials like paint brushes, frames, watercolors, pencils, and more. Ines' dream is to export her husband's paintings to foreign markets.
The members of group as a whole are thankful for the opportunity presented to them and promise to make their payments of the debt on the timetable they have established.
Cusco is located in the district and province of Cusco in the department of Cusco, in the very heart of the old city of the Incas, and has a reputation as a tourist destination, for its archeological digs, the historic downtown, its little side streets, for its history and for being a truly enchanting city in the southern region of the country. Cusco is most well-known for being a very touristy area, its commerce, and for the traditional festival of Inti Raymi, and because it is where one of the Seven Wonders of the World, “Machupicchu” is located.
(La socia Ines en la fotografía está levantando la mano). La socia Ines nació en la ciudad de Lima pero vive actualmente en la hermosa ciudad del Cusco, es casada y fruto esta hermosa relación tiene dos hijos. Su actividad económica principal de la socia es administrar el pequeño negocio de elaboración de artesanía de su pareja, el esposo de la socia es artesano y elabora pintura cusqueña como por ejemplo paisajes, niños, cholitas, calles de la ciudad del Cusco y otros cosas más, que su imaginación le permita. Ya son varios años que se dedican a este negocio y les ha ido muy bien. En esta oportunidad Ines requiere el préstamo para comprar materiales como por ejemplo pinceles, bastidores, acuarelas, lápices y otras cosas más. Su sueño de Ines es exportar sus pintura de su esposo al extranjero.
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 members of the “Lucero” communal bank meet every thirty days in the micro-finance offices of the Asociación Arariwa in the city of Cusco. Currently this communal bank is in its 11th loan cycle. It is made up of 18 hardworking and entrepreneurial people who look for every opportunity to get… More from Lucero 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