Update on Sayhua GroupThe communal bank "Sayhua" is well organized and comprised of people who are always looking for opportunities to get ahead. With their daily effort, they are looking to give their children a better future. Most members are involved in sales of food, basic products, vegetables, and furniture.
Beatriz is still in the communal bank and raising small animals like guinea pigs. She has had the business of raising animals for several years, and it is going great thanks to the effort she puts into her work. At this time Beatriz wishes to buy merchandise like guinea pigs.
The members are grateful for the opportunity given to them, and they pledge to make their payments on time. (Leonor is a passive member of the group).
Urubamba is in the district, province and department of Cusco, the very heart of the ancient citysacred valley of the Incas. It’s noted for being a tourist destination because of its archaeological sites, historic city center, scenery, history and for being a charming city in the southern region of the country.
La socia Beatriz continúa en el banco comunal y con el negocio de la crianza de animales menores como cuyes. Ya son varios años que tiene el negocio de la crianza de animales y le va excelente gracias al empeño que pone en su trabajo.
En esta oportunidad la socia Beatriz desea comprar animales menores como por ejemplo cuyes.
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 Leonor es una socia pasiva que está en el grupo).
Urubamba está ubicado en el distrito, provincia y departamento del Cusco en pleno corazón del valle sagrado 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.
Previous Loan DetailsA group of neighbors and friends formed the Sayhua communal bank in the city of Urubamba in the Cusco departmant. This communal bank is comprised of people who are always looking for opportunities to get ahead. With their daily effort, they are looking to give their children a better future. T... More from Sayhua 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
- Repayment Term
- 6 months (Additional Information)
- Repayment Schedule
- Jan 22, 2013
- Mar 1, 2013
- Currency Exchange Loss:
- Jun 17, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.