Update on Mollecato GroupThe members belong to the “MOLLECATO” communal bank. This bank is located in the district of Urcos, belonging to the province of Quispicanchis and the department of Cusco.
The featured member is Mrs. Augusta. She is 51 years old and has 6 children. She works on her business selling dry goods like wheat, barley and corn. She sells at a few fairs and markets, working from 8:00 a.m. until 7:00 p.m. Augusta has been in this business for 5 years and it is going very well. Her dream is to have a space where she can sell the grains. She is asking for the loan to buy corn, barley and wheat.
The member whose face is covered with a circle doesn't belong to the Mollecato communal bank anymore.
The other members make a living from a business selling food, an animal business, a grocery store business and a business selling grains.
Augusta thanks those who form part of this dream in this manner, and she commits to paying her fees in the time established.
La socia es la Sra. Augusta ella tiene 51 años y tiene 6 hijos; La socia trabaja en su negocio de venta de productos secos como trigo, cebada y maíz, la socia venden algunas ferias y mercados, la socia trabaja desde las 8:00 a.m hasta las 7:00 p.m, la socia ya tiene 5 años en este negocio y le va muy bien, el sueño de la socia es tener un local donde pueda vender los granos. La socia solicita el crédito para comprar maíz, cebada y trigo.
El socio que esta tapado su cara con un circulo ya no pertenece al banco comunal Mollecato.
Los otros socios se dedican al negocio de venta de comida, negocio de animales, negocio de tienda de abarrotes y negocio de venta de granos.
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 DetailsThe member is Sra. Francisca C.. She is 49 years old and married. She makes food. The member has a small stall located in the main square of Urcos. She belongs to an association and every day from early in the morning she takes her hot pots, plates and cutlery to sell the various dishes she… More from Mollecato 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