Update on Atipay Group(Carmen is raising her hand in the photo) Carmen was born in the city of Puno, but right now she lives in the beautiful city of Cuzco. She is 35 years old and single. Carmen's main economic activity is selling children's, men's and women's shoes. She has been doing this job for several years now and it is going very well for her. At this time, Carmen needs a loan to buy merchandise, such as, for example, children's shoes, because the school year is starting soon. Carmen's dream is to open other stores in the cities of Puerto Maldonado, Sicuani and Quillabamba.
This group is made up of neighbors and friends who make up the “Atipay” communal bank in the province and department of Cuzco. This communal bank is made up of people who are always seeking opportunities to get ahead and with their daily work give their children a better future. The economic activities of the members are, for example, making snacks, school transportation, teaching, surveying assistant, selling shoes, selling cosmetics, renting out traditional costumes, restoring art, working as public employees, and teaching music.
The members in general are grateful for the opportunity that has been given and they are committed to making their different payments on time. The members that appear in the bottom part of the photo came late to the communal bank meeting.
Este grupo está conformado por vecinos y amigos que formaron el banco comunal “Atipay” en la provincia del Cusco del departamento 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; preparación de refrigerios, movilidad escolar, docente, apoyo de encuestas, venta de calzados, venta de cosméticos, alquiler de disfraces típicos y otros son restauradores de obras de arte, empleados públicos y otros docentes de música.
Los socios en general agradecen la oportunidad brindada y se comprometen a cumplir con el pago de sus diferentes cuotas en los plazos establecidos. (Los socios que aparecen en la parte inferior de la fotografía llegaron tarde a la reunión del banco comunal).
Previous Loan Details(Señora Carmen is raising her hand in the photograph.) Communal bank member Carmen was born in the city of Puno, but now she lives in the beautiful city of Cusco. She is 34 years old but she is single. Her principal business is selling shoes. She has already worked in this business for a number of… More from Atipay 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
- Feb 4, 2013
- Mar 3, 2013
- Currency Exchange Loss:
- Jul 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.