Mamacha Del Carmen-Vilcabamba Group
Update on Mamacha Del Carmen-Vilcabamba GroupMade up of a group of neighbours and friends, the "Mamacha del Carmen" communal bank is in the Vilcabamba community. (Vilcabamba is in the district of Caicay in the Paucartamba province of the department of Cusco): This communal bank is made up of various members who are always looking for opportunities to move forward and to provide a better future for their children. The members work in agriculture, artisan crafts, selling food, cattle raising, raising young animals and other activities.
Segundina (with her hand raised in the photo) is 23 years old and has one son. She is responsible and friendly and is helping her family to prosper. Segundina was born in Pitucancha but is now living in Vilcabamba where she works in agriculture. However, she must rent land in order to grow her corn. Segundina is responsible and her friends had no hesitations when they invited her to join the communal bank. On this occasion, Segundina needs a loan to buy seeds and to rent land for growing her crops. The whole group is grateful for the opportunity being provided and promises to make their repayments on time.
Segundina está levantando la mano en la fotografía, ella tiene 23 años de edad y tiene un hijo, ella es una persona responsable y amable que saca adelante a su familia, ella nació en la comunidad de Pitucancha pero actualmente está viviendo en la comunidad de Vilcabamba donde realiza sus actividades económicas, ella se dedica a la agricultura pero tiene que alquilar terrenos de cultivos para sembrar maíz, ella es una persona responsable y sus vecinos no dudaron en invitarle a participar del banco comunal. En esta oportunidad Segundina requiere el préstamo para comprar semillas y para alquilar un terreno de cultivo. Los socios en general agradecen la oportunidad brindada y se comprometen a cumplir con el pago de sus diferentes cuotas en los plazos establecidos.
Previous Loan DetailsThese people belong to the Mamacha de Carmen-Vilcabamba Community Bank located in the department of Cusco. Sra. Dorothea is one of the members. She is single, 36 years old, and has three children. As well as her daily duties, she runs a corner store selling a variety of products such as sugar,... More from Mamacha Del Carmen-Vilcabamba Group's previous loan »
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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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