Granito De Mostaza Group
Update on Granito De Mostaza GroupThese members belong to the communal bank Granito de Mostaza. This bank is located in the district of Cusco, belonging to the province and department of Cusco.
Mercedes is married and has 3 children. She continues working in a public business. Her work is going well and offers both financial and personal satisfaction. At the same time she continues her catering business. She wants to be able to continue woking as she supports her family this way. She is asking for a loan to buy supplies such as flour, milk, sugar, and other items for her business.
The other members work as school bus drivers, in crane-hire, as teachers, and as employees in private businesses.
The member who appears in the attached photo asked permission to arrive late to the meeting for work reasons.
The member is grateful to those who are a part of this dream and she promises to make her payments on time.
La socia es la Sra. Mercedes ella es casada y tiene 3 hijos; La socia continua trabajando en una empresa pública, la socia lleva buen tiempo con su trabajo el cual le trae satisfacciones tanto económicas como personales, la socia a la vez continua con su negocio de atención de eventos (catering), la socia desea poder seguir trabajando para de esta forma seguir apoyando a su familia.
La socia solicita el crédito para la compra de insumos como harina, leche, azucar entre otros para su negocio.
Los otros socios se dedican al negocio de movilidad escolar, alquiler de gruas, docentes y trabajadores de empresas privadas.
La socia que sale en la foto adjunta pidió permiso para llegar tarde a la reunión por motivos de trabajo.
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 are members of the Granito de Mostaza Communal Bank. This bank is located in the district of Cusco, in the province and department of Cusco. This bank member is Mercedes. She is married, 53 years old, and has three children. She alternates her daily activities with working for a public… More from Granito De Mostaza 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
- May 7, 2013
- Jun 9, 2013
- Currency Exchange Loss:
- Oct 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.