Maluay De Curiquinga (Cuenca) Group
Update on Maluay De Curiquinga (Cuenca) GroupThe communal bank Maluay de Curiquinga, consists of 9 women who work daily to improve the stability of their homes and the ability for their children to get ahead in life. They do various activities for a living. Some work in the city of Cuenca but they also raise animals or are in agriculture. They keep alive the culture and traditions of their people. The members of this communal bank meet in the sector Maluay en Cuenca where they enjoy lush greenery and a cool climate. Its architecture is a mix of old and new.
One of the members of this group, María Sandra, is 40 years old, married, and has seven children. Three study in the local school, two are in elementary school and the last two are young and stay at home. Her husband does construction, working as a mason for a living. The house that they live in is their own.
María Sandra does household chores and diligently cares for her children. She also works in the fields farming and raising animals. She learned this trade from her parents and little by little was making this her lifestyle and it now allows her to cover her household costs.
The funds for her previous loan were invested in the construction of a chicken coup which was very beneficial. This round she is requesting a credit to purchase chickens, pigs, and guinea pigs to continue growing in this economic activity.
Una de las socias de este grupo es la Señora. María Sandra tiene 40 años de edad, es casada y en su unión conyugal ha procreado 7 hijos, tres estudian en un colegio de la localidad, dos están estudiando en una escuelita y sus dos últimos hijos aun pequeños y pasan en casa. Su esposo se dedica al área de la construcción laborando como albañil, la casa en la que viven es propia.
La Señora. María Sandra se dedica a los quehaceres de su hogar y cuidar afanosamente a sus hijos, también trabaja en el campo sembrando y criando animales. Esta actividad aprendió de sus padres y poco a poco fue haciendo su estilo de vida y ahora le permite solventar los gastos de su hogar.
El dinero de su crédito anterior lo invirtió en la construcción de un galpón para pollos del cual ha sacado mucho provecho. Esta repitiendo el crédito ya que quiere comprar pollos, cerdos y cuyes para continuar creciendo en esta actividad económica.
Previous Loan Details“Maluay de Curiquinga” is a communal bank made up of 10 women who live in the Parroquia del Valle surrounding area, located in the southeast part of the city of Cuenca. It’s one of the most important parishes in the area. Its people build homes and have small businesses. It’s a center for manual… More from Maluay De Curiquinga (Cuenca) Group's previous loan »
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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