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Choquequirao Inc Group
In this Group: Luzmila*, Rocio Mayveli, Elizabeth*, Carlos Rodolfo, Oscar Carlos, Clorinda*, Elvira Emperatriz, Froilan Teofilo, Maria Antonieta, Nancy, Milagros, Jean Carlos, Liz Zuyana, Silvia Jhoana, Karina
* not pictured
A group of neighbors and friends formed the Choquequirao Inc. communal bank in the city of Cusco. This communal bank is made up of people who are always looking for opportunities to get ahead and, with their daily effort, give their children a better future. The work the members carry out includes selling clothing, making clothing, selling natural products, selling food, offering security services, teaching, dentistry, and working as a public employee.

Milagros was born in the province of Cusco and lives in the same province. Milagros's job is selling belts via catalogue. She sells the products to her friends, neighbors, relatives, and coworkers in the communal bank. Once they order the product, she has to order it with her money and later the customers pay her the product's value or make payments. She has made a living in this business for several years and it's going very well for her.

Milagros needs this loan to buy more products, such as belts.

The members in general are grateful for this opportunity and are committed to making their various payments punctually. (The person who appears at the bottom of the photograph asked permission to not attend the meeting.)

Cusco is located in the district and province of Cusco and the department of Cusco, right in the heart of the ancient capital of the Incas. It's known as a tourist region for its archeological centers, historic city center, scenery, and history, and for being a charming city in the southern part of the country. Cusco's known for tourism, commerce, and the traditional Inti Raymi festival, and because one of the Seven Wonders of the World is there, Machu Picchu.
View original language description ↓
Un grupo de vecinos y amigos formaron el banco comunal “Choquequirao INC” en la ciudad del Cusco. Este banco comunal está conformado por personas que buscan a cada momento las oportunidades para salir adelante y con su esfuerzo diario entregar un mejor futuro a sus hijos. Las actividades económicas de los socios son por ejemplo; venta de ropa, confección de ropa, venta de productos naturales, venta de comida, brindar servicio de seguridad, profesores, odontólogos y empleados públicos.

Milagros nació en la provincia del Cusco y vive en la misma provincia donde nació. Su actividad económica de Milagros es la venta de fajas por catalalogos, ella ofrece los productos a sus amigos, vecinos, familiares, compañeros del banco comunal, una vez hecho el pedido del producto, ella tiene que pedir los productos con su dinero para luego las personas que pidieron le paguen el valor del producto o en cuotas. Ya son varios años que se dedica a este negocio y le va muy bien. En esta oportunidad Milagros requiere el préstamo para comprar más productos como fajas.

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”. (La persona que aparece en la parte inferior de la fotografia pidio permiso para no estar presente en la reunion).

Additional Information

Important Information

About 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).

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.

About Peru

  • $12,000
    Average annual income
  • 93
    View loans »
    Peru Loans Fundraising
  • $57,998,275
    Funds lent in using Kiva
  • 2.6
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A portion of Choquequirao Inc Group's $5,925 loan helped a member to buy belts.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 12, 2012
Listed
Feb 1, 2013
Currency Exchange Loss:
Possible
Ended:
May 17, 2013