Nuevo Progreso De Andahuaylillas Group
Update on Nuevo Progreso De Andahuaylillas GroupA group of friends and neighbors formed the “Nuevo Progreso de Andahuaylillas” Communal Bank in the district of Andahuaylillas, in Quispicanchis Province in the department of Cusco. This communal bank is made up of people who always look for opportunities to move ahead and provide a better future for their children through their daily work. The members’ economic activities are, for example, handicraft sales, food sales, small animal husbandry (e.g. guinea pigs, chickens and ducks), corn sales and the sale of sweets. Other members are farmers.
Sra. Mery is shown in the photograph raising her hand. She was born in the city of Anta but now lives in the city of Andahuaylillas. She is 46 years old and is married with four children. Her principal business is food sales. She owns a small store in her home where she waits on customers every day from 5 in the morning until 9 at night or until the food runs out. She has had this business for several years and it is going very well thanks to the effort she puts into her work. At this time Mery needs the loan to buy merchandise such as sacks of rice, sacks of sugar, noodles, milk and other items.
The members in general are grateful for the opportunity provided and are committed to making their payments on time. (The member who appears in the lower box in the photograph arrived late to the meeting of the communal bank.)
It should be noted that Cusco, located in the district and province of Cusco, in the department of Cusco right in the heart of the ancient city of the Incas is characterized as being a tourist area due to its archaeological centers, its history, its landscape and because it is an enchanting city in the southern part of the country. Cusco is also known for its traditional festival of Inti Raymi and because it has Machu Picchu, one of the seven wonders of the world.
(La señora Mery está levantando la mano en la fotografía). La socia Mery nació en la ciudad de Anta pero actualmente vive en la ciudad de Andahuaylillas, ella tiene 46 años de edad y es casada y fruto de unión tiene cuatro hijos. Su actividad económica principal de la socia Mery es la venta de comestibles, ella tiene una pequeña tienda en su domicilio donde atiende todos los días desde las 5 de la mañana hasta las 9 de la noche o hasta que se agote el pan. Ya son varios años que se dedica a este negocio y le va muy bien gracias al empeño que pone en su trabajo. En esta oportunidad Mery requiere el préstamo para comprar mercadería como por ejemplo sacos de arroz, sacos de azúcar, fideos, leche 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. (La socia que aparece en la parte inferior de la fotografía llego tarde a la reunión del banco comunal).
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 tambien por su fiesta tradicional del Inti Raymi y porque se encuentra una de las siete maravillas del mundo “Machupicchu”.
Previous Loan DetailsThe members of our group, Nuevo Progreso de Andahuaylillas, are part of the Asociación Arariwa. This communal bank consists of 16 members from Andahuaylillas, a small town above the left bank of the Vilcanota River that is surrounded by mountains. One member of the group, Luz Marina, is 39 years… More from Nuevo Progreso De Andahuaylillas 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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