Señor Del Cautivo Group
Update on Señor Del Cautivo GroupA group of friends and neighbors formed Señor del Cautivo Communal Bank in the district and province of Urubamba. The communal bank has been operating for four years and it's well organized. This communal bank is made up of fifteen people who are always looking for opportunities to get ahead and, with their daily efforts, provide a better future for their children. The economic activities of the members are selling crafts, plaster, wood, "chicha" [corn liquor], vegetables, flowers, and fruits, and providing services as masons or construction workers, for example.
Antonia lives in the city of Urubamba where she carries out her work. She's 46 years old and has eight children. She has a small grocery store in her home where she sells a variety of provisions, including sugar, rice, pasta, oil, milk, canned goods, vegetables, meat, soda, cigarettes, rum, beer, soap, detergent, eggs, and potatoes. She has had her store for several years and it's going well for her, thanks to the effort she puts into her work.
This time Antonia wants to buy merchandise, such as sacks of rice and sacks of sugar.
The members in general are grateful for this opportunity and pledge to make their various payments on time. (The member who appears at the bottom of the photograph asked permission to arrive after the meeting.)
Los socios en general agradecen la oportunidad brindada y se comprometen a cumplir con el pago de sus diferentes cuotas en los plazos establecidos.(La socia que aparece en la parte inferior de la fotografía pidió permiso para llegar después de la reunión).
Previous Loan DetailsA group of neighbors and friends formed the communal bank “Señor del Cautivo” in the district and province of Urubamba. The communal bank formed four years ago and is well organized. This communal bank is made up of fifteen people who are searching each opportunity in order to get ahead and with… More from Señor Del Cautivo 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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