Dos De Mayo Group
Update on Dos De Mayo GroupThis member belongs to the Communal Bank "Dos de Mayo" (May 2nd), which is located in the District and Province of Cusco in the Department of Cusco.
Luzgarda is a member who is 49 years old, married, and has three children. She divides her time between her daily activities and her business of selling beauty products such as crèmes, colognes, and other items. Luzgarda has been in this business for years so that she can help her family get ahead. She works as a street vendor in order to sell these natural products to friends, relatives, and neighbors. Luzgarda is a cheerful and responsible person who has the drive to succeed on behalf of her family. She is requesting a loan to buy beauty products, such as colognes.
The other members have businesses that involve raising small animals, renting out mountain hiking equipment, selling cosmetics, raising guinea pigs, and managing a grocery store. The member who appears in the smaller photo requested permission to arrive a little late to the meeting for work reasons.
Luzgarda is grateful for receiving her loan in this manner and promises to complete her payments.
La socia Luzgarda; la socia tiene 49 años, casada y tiene 3 hijos; la socia alterna sus actividades diarias con el negocio de venta de productos de belleza como cremas, colonias entre otros, la socia lleva años en este negocio el cual mediante este la socia saca adelante a su familia, ella trabaja de forma ambulatoria, a la vez vende productos naturales a sus amistades, familiares y vecinos, la socia es una persona alegre y responsable con muchas ganas de salir adelante por su familia.
La socia solicita el préstamo para la compra de mercadería de productos de belleza como colonias.
Los otros socios se dedican al negocio de crianza de animales menores, alquiler de instrumentos de trekking, venta de cosméticos, venta de crianza de cuyes, tienda de abarrotes.
La socia que sale adjunta en la foto pidio permiso para llegar un poco tarde a la reunion por motivos de trabajo.
La socia agradece este medio por el cual le facilita el crédito y se compromete a cumplir con los pagos.
Previous Loan DetailsOur members make up the “DOS DE MAYO” (May 2) communal bank. They live in Cusco’s Huanchac district and meet monthly in Arariwa’s offices. Our featured member is Martha, 43. She is a single mother of two children. She alternates her household chores with retail: she sells nutritional… More from Dos De Mayo 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