Juntos Por El Progreso Group
Update on Juntos Por El Progreso GroupVilma, 39, is both mother and father for her two children. She’s originally from the city of Quillabamba but has lived in the city of Cusco in Cusco Province and Cusco Department for the last nine years. She’s an enterprising, responsible mother who liked challenges. She sells clothes and appliances. She travels weekly to one of the markets in the city of Limatambo to sell her wares. She’s been in this business for several years now and does very well. On this occasion, Vilma needs the loan to buy clothes and appliances. Her dream is that her children become professionals. (Vilma is raising her hand in the photo).
This group is composed of friends and neighbors who formed the “Juntos para el Progerso” (Together for Progress) communal bank in Cusco Province, Cusco Department. This communal bank’s members are all people who are always seeking ways to get ahead and with their daily effort provide their children with a better future. Their economic activities are varied. Among them are: candy sales, food sales, CD sales and clothing sales. (The member who appears in the bottom of the photo requested permission from the governing board to miss the meeting). 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, Province and Department in the very heart of the ancient city of the Incas. It’s noted for being a tourist destination because of its archaeological sites, historic city center, scenery, its history and for being an enchanting city in the southern region of the country. Cusco is also noted 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 “Juntos para el Progreso” 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 caramelos, venta de comida, venta de Cd y venta de ropa. (La socia que aparece en la parte inferior de la fotografía pidió permiso a la junta directiva para no estar presente en la reunión).
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”.
Previous Loan DetailsOur members belong to the community bank, Juntos por el Progreso (Together for Progress). Our members live in the district of Huanchac in Cusco Province, the Department of Cusco. Our members alternate their retail activities, focusing mainly on selling clothes, shoes, and artifacts in the city… More from Juntos Por El Progreso 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