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Sumac Tica Group
In this Group: Cipriana, Daniel, Damiana, Geronima, Gladys, Concepcion, Hilda*, Felipa, Cecilia, Raymunda, Yedilda
* not pictured
A group of friends and neighbors formed the “Sumac Tica” communal bank in the Pro Vivienda association in Cotowincho in Urubamba District of Urubamba Province in Cusco Department. This communal bank is formed by people who always seek opportunities to get ahead and by means of their daily efforts provide a better future for their children. Some of the economic activities of the members are: crafts sales, vegetable sales, dry goods sales, cattle raising, beer sales, jora [corn based beverage] sales, food sales, raising small farm animals like chickens; others work cleaning and caretaking.

(Cipriana is raising her hand in the photo). Cipriana was born in the city of Ollantaytambo in Urubamba Province but now lives in the city of Cotowincho. Cipriana’s main economic activity is selling food from place to place. She’s been in this business for several years now and thanks to the effort she puts into it does very well. On this occasion, Cipriana wants to buy ingredients like meat, vegetables, sacks of rice and sugar and other things.

The members in general are grateful for the opportunity provided and commit to make their various installment payments according to the established schedule.

Cusco is located in Cusco District and Province and in Cusco Department in the very heart of the ancient city of the Incas. It’s noted for being a tourist zone because of its archaeological sites, its historic city center, its scenery and its history; it’s an enchanting city in the country’s southern region. Cusco is known as a very tourist oriented, commercial zone because of its traditional Inti Raymi festival and because one of the Seven Wonders of the World, Machupicchu, is located there.
View original language description ↓
Un grupo de vecinos y amigos formaron el banco comunal “Sumac Tica” en la asociación pro vivienda de Cotowincho del distrito Urubamba de la provincia de Urubamba del departamento del Cusco. Este banco comunal está conformado por personas que buscan a cada momento las oportunidades para salir adelante y con su esfuerzo diario entregar un mejor futuro a sus hijos. Las actividades económicas de los socios son por ejemplo; venta de artesanía, venta de verduras, venta de productos secos, engorde de ganado, venta de cerveza, venta de jora, venta de comestibles, crianza de animales menores como gallinas y otros hacen servicio de limpieza y guardianía.

(La señora Cipriana está levantando la mano en la fotografía). La socia Cipriana nació en la ciudad de Ollantaytambo en la provincia de Urubamba pero ahora vive en la ciudad de Cotowincho. Su actividad económica principal de Cipriana es la venta de comida de forma ambulatoria. Ya son varios años se dedica a este negocio y le va muy bien gracias al empeño que pone en su negocio. En esta oportunidad Cipriana requiere el préstamo para comprar insumos como por ejemplo carne, verduras, sacos arroz, sacos azúcar y otras cosas más.

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”.

Additional Information

Important Information

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).

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.

About Peru

  • $6,715
    Average annual income
  • 118
    View loans »
    Peru Loans Fundraising
  • $56,074,200
    Funds lent in using Kiva
  • 2.7
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A portion of Sumac Tica Group's $4,400 loan helped a member to buy ingredients.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 11, 2012
Listed
May 22, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 15, 2012