Virgen Guadalupe Group
Update on Virgen Guadalupe GroupThe members of the “Virgen Guadalupana” communal bank are located in Cusco District belonging to Cusco Province and Department. Margot, 28, has a spouse and two children.
She works in her grocery store selling basic staples like rice, sugar, milk, cookies and candy. She works from 6am until 10pm and has been in business four months. She used to work selling soft-drinks in the city of Quillabamba that’s six hours from the city of Cusco but she didn’t do too well because profits were very low.
Her dream is to expand and have a bigger grocery store. She requests the loan to buy merchandise like rice, sugar, milk, oil and cookies for the store. She is grateful to those who share her dream by this means and commits to make her installment payments as scheduled.
The other members sell food, vegetables, corn and raise animals.
La socia es la Sra. Margot ella es conviviente y tiene 28 años y tiene 2 hijos; La socia trabaja en su negocio de tienda de abarrotes,ella vende productos de primera necesidad como arroz,azúcar,leche,galletas y dulces,la socia trabaja desde las 6:00 a.m hasta las 10:00 p.m,la socia tiene 4 meses en este negocio y antes de dedicaba al negocio de venta de refrescos en la ciudad de Quillabamba que queda a 6 horas de la ciudad del Cusco pero no le fue muy bien porque ganaba muy poco dinero,el sueño de la socia es ampliar y tener un tienda de abarrotes mas grande. La socia solicita el préstamo para comprar productos para la tienda de abarrotes como arroz, azúcar, leche, aceite galletas.
Los otros socios se dedican al negocio de venta de comida, negocio de venta de verduras, negocio de crianza de animales y negocio de venta de maiz.
La socia agradece a quienes forman parte de este sueño mediante este medio y se compromete a cumplir con el pago de sus cuotas en el plazo establecido.
Previous Loan DetailsSeñora Narley was born in the Huallabamba district in Urubamba province in the department of Cusco, and she lives in the community of Hycho in Huallabamba district. (The member is raising her hand in the photograph). Señora Narley is 24 years old and lives in a common law relationship from wh... More from Virgen Guadalupe 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.
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Success!! The loan was 100% repaid