Miraflores De Challabamba Group
A group of friends and neighbors formed the “MIraflores de Challabamba” communal bank in Challabamba District. This communal bank consists of several people who are always seeking opportunities to get ahead and with their daily effort to provide a better future for their children. The members work in agriculture, raising livestock, selling foodstuffs, fattening up cattle and raising small farm animals. In general, the members are grateful for the opportunity provided and commit to make their various installment payments as scheduled.
(The people in the photos inserted at the bottom asked permission to miss the meeting.) (Challabama District is in Paucartambo Province, Cusco Department.)
Un grupo de vecinos y amigos formaron el banco comunal “Miraflores de Challabamba” en el distrito de Challabamba. Este banco comunal está conformado por varias personas que buscan a cada momento las oportunidades para salir adelante y con su esfuerzo diario entregar un mejor futuro a sus hijos. Los socios se dedican a la agricultura, a la ganadería, a la venta de comestibles, al engorde de ganado y a la crianza de animales menores. Los socios en general agradecen la oportunidad brindada y se comprometen a cumplir con el pago de sus diferentes cuotas en los plazos establecidos. (Las fotos de las personas que aparecen en la parte inferior de la fotografía pidieron permiso para no estar presentes en la reunión).
(En el distrito de Challabamba y está dentro de la provincia de Paucartambo del departamento del Cusco).
More information about this 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).
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