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Sumac Tica Group
In this Group: Cipriana, Daniel, Damiana, Gladys, Concepcion, Hilda, Raymunda, Tadeo

Update on Sumac Tica Group

Raymunda, 67, is a member of the “Sumac Tica” communal bank located in Urubamba District in Urubamba Province and Cusco Department. She’s married and has two children. She alternates her daily activities with selling ‘chicha de jora’ [type of corn beer] and beer. She’s been in business for years and does well thanks to the effort she puts into it every day. Her shop is located at home and she also works raising small farm animals like guinea pigs; she raises them to then sell to customers that request them. She is a responsible, dedicated person who supports her family this way. She requested the loan to buy beer for her business. She feels grateful for the granted loan and commits to make her installment payments as scheduled.

The other group members sell vegetables, food, make ‘chicha,’ raise animals, sell, ice-cream and sell firewood.
View original language description ↓
La socia pertenece al banco comunal SUMAC TICA; este banco está situado en el distrito de Urubamba en la provincia de Urubamba departamento de Cusco.

La socia Raymunda, la socia tiene 67 años de edad, casada y tiene 02 hijos, la socia alterna sus actividades diarias con el negocio de venta de chicha de jora y cerveza ,la socia lleva años en este su negocio el cual le va bien gracias al empeño que le pone cada día a su negocio,su local se encuentra ubicado en su casa, la socia a la vez se dedica a la crianza de animales menores como cuyes ,la socia cría a estos animalitos para la luego venderlo a sus clientes que le solicitan, la socia es una persona responsable y empeñosa siendo de esta forma que la socia saca adelante a su familia.

La socia solicito el crédito para la compra de cerveza para su negocio.

Los otros socios se dedican al negocio de venta de verduras, venta de comida, elaboración de chicha, crianza de animales, venta de helados, venta de leña.

La socia se siente agradecida por el crédito otorgado y se compromete a cumplir con sus cuotas establecidas.

Previous Loan Details

A group of friends and neighbors formed the “Sumac Tica” communal bank in the Pro Vivienda association in Cotowincho in Urubamba District of Urubamba Province in Cusco Department. This communal bank is formed by people who always seek opportunities to get ahead and by means of their daily effort... More from Sumac Tica Group's previous loan »

Additional Information

Important Information

About 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.

About Peru

  • $12,000
    Average annual income
  • 117
    View loans »
    Peru Loans Fundraising
  • $57,346,050
    Funds lent in using Kiva
  • 2.6
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A portion of Sumac Tica Group's $2,825 loan helped a member to buy beer.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 12, 2012
Listed
Oct 3, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013