On this occasion, Sofía needs the loan for personal use; she wants it to pay her monthly university tuition cost. Her dream is to be an exemplary professional and to complete her Business Administration career. (In the photo, Sofía is raising her hand).
This group is composed of neighbors and friends who formed the “Kancharisun” communal bank in Cusco Province, Cusco Department. The communal bank is composed of people who are constantly seeking ways to get ahead with their daily effort and provide their children with better futures. Some of their economic activities are: construction materials sales and clothing sales but most of them are employees in private and public firms. The members as a group are grateful for the opportunity provided and commit to make their various installment payments as scheduled.
Cusco is located in Cusco District and Province in Cusco Department. It’s at the very heart of the ancient city of the Incas and is noted for being a tourist destination because of its archaeological sites, its historic city center, its scenery, its history and for being an enchanting city in the southern region of the country. Cusco is also known for its traditional Inti Raymi festival and because one of the Seven Wonders of the World, Machupicchu, is located here.
Este grupo está conformado por vecinos y amigos que formaron el banco comunal “Kancharisun” en la provincia del 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 materiales de construcción, venta de ropa pero la mayoria son empleados que trabajan en entidades publicos y privadas.
Los socios en general agradecen la oportunidad brindada y se comprometen a cumplir con el pago de sus diferentes cuotas en los plazos establecidos.
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”.
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).
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