Update on Killa GroupA group of neighbors and friends formed the communal bank "Killa" in the city of Cusco. This communal bank is comprised of people always looking for opportunities to get ahead and, through daily effort, provide a better future for their children. The business activities the members are involved in include clothing sales, teaching, and phone calling services, among others.
(Mrs. Olga is the one raising her hand in the photo). Olga was born in the city of Cusco. She is 25 years old, has a common-law husband and three children. Her main business activity is selling food. She has a small restaurant in a space that she rents monthly. For a year now she has been in business and it is going very well thanks to her hard work. On this occasion, Olga needs a loan to furnish the restaurant with chairs, tables, dishes, etc.
The members, in general, are grateful for this opportunity and committed to paying back their loan installments on time. Cusco is in the district, province and department of Cusco, in the heart of the old city of the Incas. It is known for its tourist areas, archeological centers, historic center, landscape, history and because it is one of the most enchanting cities of the southern part of the country. Cusco is very well-known for being a great tourist and commercial area, for its traditional celebration of Inti Raymi, and because it is home to one of the seven wonders of the world: "Machupicchu".
(La señora Olga está levantando la mano en la fotografía). La socia Olga nació en la ciudad del Cusco, tiene 25 años de edad, ella tiene una relación de unión libre de la cual tiene tres hijos. Su actividad económica principal de la socia Olga es la venta de comida, ella tiene un pequeño restaurante pero el local es alquilado y cada mes paga un alquiler. Ya es un año que se dedica a este negocio y le va muy bien gracias al empeño que pone en su negocio. Olga en esta oportunidad requiere el préstamo para implementar el restaurante ósea desea comprar sillas, mesas, platos y otros 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”.
Previous Loan DetailsThe members belong to the “KILLA” communal bank. This bank is located in the district of Cuzco, which belongs to the province and department of Cuzco. This member's name is Bertha Elena. She is single and 53 years old. She has 4 children. She has her own business buying and selling clothing. ... More from Killa 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