Reyna Del Carmen Group
Update on Reyna Del Carmen GroupA group of neighbors and friends set up the “Reyna del Carmen” communal bank in the city of Cusco. This communal bank is made up of people who are always looking for opportunities to get ahead in life, and with their hard work of every day, they provide their children with a better future. The member's activities are, for example: selling handicrafts, clothes, food, CDs and shoes; others provide services in construction and transport.
Dora was born in the beautiful city of Cusco and lives in the same city in which she was born, she is 59 years old and has 2 children. Dora makes her living rearing small animals such as chicken, on this occasion, she needs the loan to buy chicken. She has had this business for 7 years and it is going extremely well thanks to the effort she puts into her work.
The members as a whole are grateful for the opportunity they are being given and promise to meet the repayments of their different loans within the fixed timetables. Cusco is located in the district and province of Cusco of the department of Cusco, in the very heart of the ancient city of the Incas, known for being a tourist area, for its archaeological sites, its historical center, its scenery, its history and for being a delightful city in the Southern Region of the country. Cusco is known for being a very touristic and commercial area, for its traditional festival, the Inti Raymi, and for being home to one of the Seven Wonders of the World: Machu Picchu.
Dora nació en la hermosa ciudad del Cusco y vive en la misma ciudad donde nació, ella tiene 59 años de edad y tiene dos hijos. Dora se dedica a la crianza de animales menores como pollos, ella en esta oportunidad requiere el préstamo para comprar pollos. Ya son 7 años que tiene el negocio y le va excelente gracias al empeño que pone en su trabajo.
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 DetailsThis group belongs to the communal bank "Reyna Del Carmen"; this bank is located in the department of Cusco, Peru. One group member, Livia, is 27 years old, has two children, and lives with her partner. She alternates her daily activities with her grocery store, where she sells different types… More from Reyna Del Carmen 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