Los Exitosos Group
Update on Los Exitosos GroupThese borrowers are part of the Communal Bank “Los Exitosos” (The Successful Ones). The bank is located in the District, Province, and Department of Cusco.
One of the borrowers is Sra. Clara. She is 37 years old, married, and has three children. Clara works at her business of selling handicrafts. She produces items made of wool, such as mittens and caps. Clara works as an independent vendor, offering her products to different establishments that sell handicrafts. She has been in this business for seven years and has done very well. Her dream is to have a shop where she can sell handicrafts. Clara is requesting a loan so that she can buy colored wool, knitting needles, and fabrics.
The other members engage in business activities such as operating a restaurant, managing a grocery store, selling beauty products, and providing taxi services.
Clara is grateful to those who have fulfilled her dream in this manner, so she promises to complete her payments according to the established terms.
La socia es la Sra. Clara ella es casada y tiene 37 años y tiene 3 hijos; La socia trabaja en su negocio de venta de artesanía, la socia realiza trabajo en lana como guantes y gorros, la socia vende en forma independiente llevando a diferentes lugares donde vende la artesanía, la socia ya tiene 7 años en este negocio y le va muy bien, el sueño de la socia es tener un local donde se pueda vender la artesanía. La socia solicita el préstamo para comprar lanas de colores, palitos de tener y telas.
Los otros socios se dedican al negocio de restaurant, negocio de tienda de abarrotes, negocio de venta de productos de belleza y negocio de servicio de taxi.
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 DetailsThese members belong to the Communal Bank "Los Exitosos" (The Successful Ones), which is located in the District, Province, and Department of Cusco. One of the members, Sra. Juana, is a 63-year-old widow with two children. She works in her handicrafts business where she makes and sells items... More from Los Exitosos 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