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Qorichuspa Group
In this Group: Ruth Lidia, Orlando, Hipolita, Marina, Mabel Edith, Elizabeth, Daniel, Margarita, Hilda Leonor, Elio, Victoria, Jesus
A group of neighbors and friends formed the communal bank "Qorichuspa" in the pro-housing association Habitad Hillary from the district and province of Urubamba of the department of Cusco. This communal bank is made up of people that look for opportunities to get ahead at each moment and give a better future to their children with their daily effort. The members' economic activities, for example, are: selling traditional crafts, food, clothing, dry grains, and wood, and others work as teachers, master builders, and public workers.

(Ruth is raising her hand in the photograph.) The member Ruth was born in the city of Lima but has lived in the city of Urubamba for seven years. She is 45 years old and has a common law marriage from which she has three children (Estefany, 22 years of age who studies at a national university; Antony, 18 years of age who studies at a private university; and Leo, 14 years years of age who is in high school). Ruth's main economic activity is selling cylinders of gas and she has a small shop in her home. She has already been making a living doing this business for seven years and things are going very well for her thanks to the determination that she puts into it. The member Ruth also makes a living making food for patron saint's day parties. Her husband is a building worker and as such makes a living building houses. At this time Ruth needs the loan to buy a circular machine saw to cut wood which will allow her husband to speed up his work.

On the whole the members are thankful for the opportunity given to them and commit themselves to fulfilling the payments of their different installments according to the established terms. (The members that appear in the lower part of the photograph asked for permission from the communal bank's directive committee to not be present at the meeting.)

Cusco is located in the district and province of Cusco of the department of Cusco in the heart of the ancient city of the Incas. It is characterized for being a touristy area due to its archaeological and historic centers, landscapes, and history, and because it's a charming city in the southern region of the country. Cusco is known for being a very touristy area, for its traditional celebration Inti Raymi, and because one of the seven wonders of the world "Machu Picchu" is located nearby.
View original language description ↓
Un grupo de vecinos y amigos formaron el banco comunal “Qorichuspa” en la asociación pro vivienda Habitad Hillary del distrito de 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 comestibles, venta de ropa, venta de granos secos, venta de leña y otros trabajan como profesoras, maestro de obras y empleado público.

(La señora Ruth está levantando la mano en la fotografía). La socia Ruth nació en la ciudad de Lima pero desde hace 7 años que vive en la ciudad de Urubamba, ella tiene 45 años edad, tiene una relación de unión libre de la cual tiene tres hijos (Estefany 22 años de edad y estudia en una universidad nacional, Antony 18 años de edad y estudia en una universidad particular y Leo de 14 años de edad que estudia en el colegio). Su actividad económica principal de Ruth es la venta de balones de Gas, ella tiene un pequeño local en su domicilio. Ya son 7 años se dedica a este negocio y le va muy bien gracias al empeño que pone en su negocio. La socia Ruth también se dedica a la preparación de comida en fiestas patronales. Su esposo de Ruth es albañil por lo tanto se dedica a la construcción de casas. Ruth en esta oportunidad requiere el préstamo para comprar una maquina sierra circular para cortar madera que servirá para agilizar el trabajo del esposo.

Los socios en general agradecen la oportunidad brindada y se comprometen a cumplir con el pago de sus diferentes cuotas en los plazos establecidos. (Los socios que aparecen en la parte inferior de la fotografía pidieron permiso a la junta directiva del banco comunal para no estar presentes en la reunión).

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
  • 33
    View loans »
    Peru Loans Fundraising
  • $55,912,525
    Funds lent in using Kiva
  • 2.7
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A portion of Qorichuspa Group's $5,200 loan helped a member to buy a circular machine saw.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 17, 2012
Listed
May 28, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 15, 2012