Mamacha Rosario - Huancarani Group
Update on Mamacha Rosario - Huancarani GroupA group of neighbors and friends established the communal bank "Mamacha Rosario" in the district of Huancarani, province of Paucartambo in the department of Cusco. This group is comprised of people who are always looking for opportunities to get ahead who work hard on a daily basis to provide a better future for their children. The main businesses members are involved in are: food sales, wood furniture carpentry, craft sales, basic needs sales, fuel sales, beverage sales, small animal farming and others.
(Victoria is the one raising her hand in the photo). Victoria was born in the city of Huancarani, where she still lives. She is 43, married and has five children. Her main business activity is the sale of fuels such as gasoline and oil. She has a small fuel and lubricant shop, but she also farms and grows potatoes and barley. She buys the fuel at a pump near the city of Huancarani. For several years, she has been in business and it is going well because of the hard work she puts into it. On this occasion, Victoria is requesting a loan to buy fuels, lubricants and additives.
The members are grateful for the opportunity and committed to paying back their share of the loan on time. (The people pictured in the photos to the left arrived late for the group meeting).
Cusco is located in the district and province of Cusco in the department of Cusco, in the very heart of the old city of the Incas. It is a tourist area known for its archeological and historical centers, its landscape, history, and for being an enchanting city in the southern part of the country. Cusco is a very touristic, commercial area, known for its Inti Raymi traditional festivities and for having one of the seven wonders of the world: "Machupicchu".
(La señora Victoria está levantando la mano en la fotografía). La socia Victoria nació en la ciudad de Huancarani y vive en la misma ciudad donde nació, ella tiene 43 años de edad y es casada y fruto de esta hermosa relación tiene cinco hijos. Su actividad económica principal de la Victoria es la venta de combustibles como gasolina y petróleo, ella tiene una pequeña tienda de venta de combustibles y lubricantes pero también se dedica a la agricultura y siembra papa y cebada, ella compra combustibles de uno de los grifos cercanos a la ciudad de Huancarani. 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 Victoria requiere el préstamo para comprar combustibles, lubricantes y aditivos.
Los socios en general agradecen la oportunidad brindada y se comprometen a cumplir con el pago de sus diferentes cuotas en los plazos establecidos. (Las personas que aparecen en la parte izquierda de la fotografía llegaron 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 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 Mamacha Rosario community bank is maD. up of hard-working, charismatic, happy men and women struggling everyday to succeed along with their families. They live in the Huancarani district of the province of Paucartambo in the Cusco department. Huancarani is more than 3600 meters (11,800 ft) ab... More from Mamacha Rosario - Huancarani 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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