El Gran Poder Group
Update on El Gran Poder GroupThese borrowers belong to the 'El Gran Poder' community bank which is located in Cusco district, in Cusco province and department.
This member is Josefa. She is 45 years old, married, and has two children. She runs a clothing business. She has a store where she sells clothing such as pants, jackets, blouses and coats. She works from 9.00am to 8.00pm and, through this this business, she would like to make progress in life. Josefa's dream is to expand and improve her clothing business. She is requesting a loan to buy clothing such as blouses, jackets, coats and pants, wholesale.
The other members of this group sell handicrafts, beauty products and clothing.
Josefa is grateful to those who will take part in her dream in this way and pledges to make her loan repayments on time.
La socia es la Sra. Josefa, ella es casada y tiene 45 años y tiene 2 hijos; La socia trabaja con su negocio de venta de ropa,ella tiene una tienda donde vende ropa como pantalones,casacas,blusas y abrigos,la socia trabaja desde las 9:00 a.m hasta las 8:00 p.m,por medio de este negocio la socia quiere salir adelante,el sueño de la socia es ampliar y mejorar el negocio de venta de ropa. La socia solicita el préstamo para comprar ropa como blusas,casacas,abrigos y pantalones al por mayor.
Los otros socios se dedican al negocio de venta de artesania, negocio de venta de productos de belleza, negocio de venta de ropa.
La socia agradece a quienes forman parte de este sueño mediante este medio y se compromete a cumplir con el pago de sus cuotas en el plazo establecido.
Previous Loan DetailsThe “El Gran Poder” (The Great Power) communal bank belongs to Asociación Arariwa and has 9 female and 2 male members. The communal bank meets every thirty days and all members must attend scheduled meetings. Most of the members are neighbors and friends living in the city of Cusco. (The p... More from El Gran Poder 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