Update on Qorichuspa GroupThe borrowers belong to the Qorichuspa communal bank. This bank is located in the district of Ollantaytambo, which belongs to the province of Urubamba and department of Cusco.
One member is Marina. She is single, 37 years old, and has two children. She works in her business, selling vegetables and fruits. She sells apples, oranges, grapes, plantains, and mandarins. She also sells carrots, tomatoes, and cucumbers. She has a stall in the market where she sells the fruits and vegetables. She works from 8 am to 5 pm. She already has seven years' experience in this business, and it is going very well for her. Her dream is to have a store where she can sell her fruits and vegetables.
The borrower is requesting the loan to purchase oranges, plantains, grapes, onions, carrots, and cucumbers.
The borrower with his face blurred out is no longer a member of this communal bank. The borrowers that are in the inset photo had their picture taken after the group photo because they asked permission to be absent on the day of the group photo due to work reasons. The other communal bank members sell ceramics, have a clothing business, run a grocery store, and sell meals.
The group members are grateful to those who will be part of their dream through this platform, and they promise to make their payments on time and in the agreed-upon manner.
La socia es la Sra. Marina ella es soltera y tiene 37 años y tiene 2 hijos; La socia trabaja en su negocio de venta de verduras y frutas, la socia vende manzanas,naranjas,uvas,platanos y mandarinas, la socia también vende zanahorias, tomates y pepinos, la socia tiene un puesto de mercado donde vende las frutas y verduras, la socia trabaja desde las 8:00 a.m hasta las 5:00 p.m,la socia ya tiene 7 años en este negocio y le va muy bien, el sueño de la socia es tener un local donde pueda vender las frutas y verduras. La socia solicita el crédito para comprar naranjas,platanos,uvas,cebollas,zanahorias y pepinos.
El socio que esta tapado con un circulo su cara ya no pertenece al banco comunal Qorichuspa.
Los socios que estan pegados a la foto grupal se les tomo despues la foto porque pidieron permiso por motivos de trabajo.
Los otros socios se dedican al negocio de venta de cerámicas, negocio de ropa, negocio de tienda de abarrotes y negocio de venta de comida.
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 DetailsA group of neighbors and friends formed the communal bank "Qorichuspa" in the pro-housing association Habitad Hillary from the district and province of Urubamba of the department of Cusco. This communal bank is made up of people that look for opportunities to get ahead at each moment and give a… More from Qorichuspa 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