Update on Qorilazo GroupThe members of the QORILAZO community bank live in Cusco, a city in the Peruvian "departamento" of Cusco.
Sra. Elena, 34, is married and has 4 children. She operates a food sales business, making prepared food and selling what she makes at a market in Cusco. She has operated the business for several years and says that it is successful because she has worked day in and day out to make it successful. She is a responsible person, driven to make a success of the business because it is her means of supporting her family.
Sra. Elena is applying for a loan that she will use to buy supplies for her business: rice, cooking oil, etc.
The bank's other members operate a range of businesses that include food sales, grocery sales, mate sales, taxi services and sales of farm animals.
Sra. Elena is grateful to everyone who has supported her and committed to repaying the loan in the agreed-upon time.
La socia es la Sra. Elena ella es casada y tiene 34 años y tiene 4 hijos; La socia alterna sus actividades diarias con el negocio de elaboración de comida, la socia trabaja de forma ambulatoria repartiendo su comida en uno de los mercados de la ciudad de Cusco, la socia lleva años en este negocio el cual le va bien gracias al empeño que le pone cada día a su negocio, la socia es una persona responsable y empeñosa siendo de esta forma que la socia saca adelante a su familia.
La socia solicita el crédito para la compra de insumos para su negocio como arroz, aceite, menestras entre otros.
Los otros socios se dedican al negocio de venta de comida,tienda de abarrotes, venta de choclo con queso, venta de mates,brindando servicio de taxi,crianza de animales menores.
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 Qorilazo communal bank. This bank is located in the district of Cusco, which is part of the province and department of Cusco. Marcelina, age 33, is in a common-law marriage and has three children. She works in her business of raising and selling animals like guinea… More from Qorilazo 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