Update on Sayhua GroupA group of neighbors and friends formed the Sayhua communal bank in the city of Urubamba in the Cusco departmant. This communal bank is comprised of people who are always looking for opportunities to get ahead. With their daily effort, they are looking to give their children a better future. The members’ businesses are, for example, selling meals, selling food, selling vegetables, and selling furniture. Some of the members make wooden furniture and others work as teachers for the state.
Beatriz was born in the city of Urubamba, and she lives in the city where she was born. Beatriz raises small animals like guinea pigs. She has had the business of raising animals for several years, and it is going great thanks to the effort she puts into her work. At this time Beatriz wishes to buy merchandise like guinea pigs and feed.
The members are grateful for the opportunity given to them, and they pledge to make their payments
Cusco is located in Cusco District and Province belonging to Cusco 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, history and for being a charming 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.
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 siendo una ciudad encantadora de la Región del Sur del país. Cusco es conocido por ser una zona muy turística, comercial, 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 community bank "Sayhua". This bank is located in the Urubamba district belonging to the Urubamba province and department of Cuzco. Mrs. Maricel is a member, lives with her spouse, is 32 years old and has one child. She works in her business of raising animals, she… More from Sayhua 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