Nuevo Amanecer Group
Update on Nuevo Amanecer GroupGroup member Primitiva is 49 years old, married, and has two children through that wonderful relationship (Luis Enrique, 31, and Karla, 22). She is a Cusco native and still lives in the same city.
Primitiva has a small workshop in her home where she designs her products to later be sold and distributed in different retailers in the city. She has made a living from this business for 31 years, and it has done well.
With this opportunity, Primitiva requests a loan to purchase materials for work such as: dolls, thread, yarn, fabric, and decorations. (Primitiva is raising her hand in the photograph).
This group is made up of seniors and friends that form the communal bank "Nuevo Amanecer" (New Dawn) in the Cusco province of the Cusco state department. They are people who are constantly looking for opportunities to further themselves and who work daily to give their children a better future. The types of work these members do include: selling american clothes, selling crafts, selling glassware, and providing telephone services. The members, in general, are grateful for the given opportunity and commit themselves to completing payments for their dues at the established installment rate.
(The people who appear in the lower left corner of the photograph arrived late to the communal bank meeting).
Cusco is located in the Cusco district belonging to the Cusco province and Cusco state department. It is the heart of the ancient Incan city and is known for its tourist areas, archaeological centers, historical centers, landscapes, history, and for being the enchanting city in the southern region of the country. Cusco is also known for its traditional celebration, Inti Rayimi, because it takes place at one of the seven wonders of the world, "Machupicchu".
Este grupo está conformado por vecinos y amigos que formaron el banco comunal “Nuevo Amanecer” en la provincia de Cusco del departamento del Cusco. Este banco comunal está conformado por personas que buscan a cada momento las oportunidades para salir adelante y con su esfuerzo diario entregar un mejor futuro a sus hijos. Las actividades económicas de los socios son por ejemplo; venta de ropa americana, venta de artesanía, venta de vidrios y otros brindan servicio de llamadas.
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 a perecen en la parte inferior 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 por ser una ciudad encantadora de la Región del Sur del país. Cusco es conocido también 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 “Nuevo Amanecer” (New Dawn) communal bank located in Cusco District belonging to Cusco Province and Cusco Department. Deysi, 24, has a spouse and two children. She works selling chicken and fish. She sends these products to places like Puerto Maldonado in her own… More from Nuevo Amanecer 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