Munay Soncco Group
Update on Munay Soncco GroupMirian, 19, is a member of the “Munay Soncco” communal bank located in Wanchaq District in Cusco Province and Department. She’ single and alternates her daily chores with a business selling potatoes. She travels to Andahuaylillas District to buy her merchandise at wholesale and then be able to resell it in one of the markets in the city of Cusco. At the same time, she’s taking pre-university courses because she wants to enroll at the Universidad Nacional del Cusco in accounting. She strives hard for this and supports herself this way. She requests the loan to buy potatoes at wholesale.
The other group members’ businesses are construction materials, bakery, sand sales, brick sales, grocery store, beauty product sales and Internet access.
The people in the inserted photos are members who asked permission to arrive late at the meeting because of work commitments.
Mirian is grateful for the granted loan and commits to make her installment payments.
La socia Mirian,la socia tiene 19 años y es soltera, la socia alterna sus actividades diarias con el negocio de venta de papas ,la socia viaja al distrito de Andahuaylillas para comprar su mercadería al por mayor y de esta manera poder vender en uno de los mercados de la ciudad del Cusco, la socia a la vez es estudia en una preuniversitaria ,ella desea postular a la universidad nacional del Cusco a la carrera de contabilidad, por lo cual la socia se esfuerza mucho ,siendo de esta manera que la socia sale adelante.
La socia solicita el préstamo para la compra de papas al por mayor.
Los otros socios se dedican a la venta de materiales de construcción, panadería, venta de arena, venta de ladrillos, tienda de abarrotes, venta de productos de belleza, internet.
Las personas que salen adjuntas en la foto son socias que pidieron permiso para llegar tarde a la reunión por motivos de trabajo.
La socia se siente agradecida por el crédito otorgado y se compromete a cumplir con sus cuotas establecidas
Previous Loan DetailsThe member belongs to the “Munay Soncco” communal bank located in Wanchaq District in Cusco Province and Cusco Department Eduardina, 22, has a spouse and two children. She alternates her daily chores with a grocery store business; she sells various types of products like rice, sugar, milk,… More from Munay Soncco 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