Update on Ayni GroupA group of neighbors and friends formed the communal bank "Ayni" in the district, province and department of Cusco. This group is comprised of several people who look for every opportunity to get ahead and, through their hard work, provide their children with a better future.
Noemí was born in the city of Cusco and is 62 years old. She is married and has five children. Her main business is a laundry service and she works with different hotels, being very responsible and laborious. This is how she provides for her family.
Noemí is requesting a loan to buy work supplies such as detergent and bleach. She is grateful for the loan and committed to paying it back on time.
The other members of the group are involved in hotel services, craft sales, tourism, teaching and nursing.
Noemí nació en la ciudad del Cusco y tiene 62 años de edad, ella es casada y fruto de esta hermosa relación tiene 5 hijos. Su actividad económica principal es brindar servicio de lavandería, ella trabaja con distintos hoteles que solicitan sus servicios, ella es una persona responsable y empeñosa siendo de esta manera que la socia saca adelante a su familia. Noemí solicita el préstamo para comprar materiales de trabajo como por ejemplo detergentes, blanqueadores.
Los otros socios se dedican a la hotelería, venta de artesanía, turismo, docencia y enfermería.
La socia se siente agradecida por el crédito otorgado y se compromete a cumplir con sus cuotas establecidas.
Previous Loan DetailsThe member belongs to the AYNI communal bank which is located in the district of Wanchaq, province of Cusco, department of Cusco.
The member Noemí is 61 years old is married and has 5 children. She goes between her daily activities with her laundry business and has done so for a long time.… More from Ayni 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
- 8 months (Additional Information)
- Repayment Schedule
- Feb 5, 2013
- Apr 1, 2013
- Currency Exchange Loss:
- Sep 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.