Update on Qorilazo GroupThe members belong to the communal bank “Qorilazo.” This bank is located in the Cusco district, belonging to the Cusco province and Cusco department.
The featured borrower is Ms. Elena. She is 40 years old and married with 4 children. She works in her business of food sales. She prepares dishes such as baked chicken and soups, and then she sells her food as a street vendor in the different streets of the city of Cusco. She works from 8 am until 6 pm. She has been doing this job for 6 years and it is going really well. Her dream is to have a restaurant. She is requesting the loan to purchase cooking ingredients such as rice, chicken, beef, and vegetables.
The member whose photo is inserted in the bottom right of the group photo had their picture taken after the meeting. The member asked for permission because of work.
The other members have various businesses such a grocery store, a taxi service, selling food, and selling moraya [also known as tunta or chuño. It is dehydrated potatoes prepared using an ancient indigenous Peruvian method].
Elena is thankful to those who have become a part of her dream through this means. She commits to making her loan payments within the stipulated time period.
La socia es la Sra. Elena ella es casada y tiene 40 años y tiene 4 hijos; La socia trabaja en su negocio de venta de comida, la socia prepara platos como pollo al horno y sopas,la socia vende en forma ambulatoria en las diferentes calles de la ciudad de Cusco, la socia trabaja desde las 8:00 a.m hasta las 6:00 p.m,la socia ya tiene 6 años en este negocio y le va muy bien,el sueño de la socia es tener un restaurant. La socia solicita el crédito para comprar insumos para cocinar como arroz, pollo, carne y verduras.
El socio que esta pegado a la foto grupal se le tomo la foto despues de la reunion porque pidio permiso por motivos de trabajo.
Los otros socios se dedican al negocio de venta de comida, negocio de venta de morayas, negocio de tienda de abarrotes y negocio de servicio de taxi.
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 members belong to the “Qorilazo” communal bank that’s located in Cusco District belonging to Cusco Province and Department. María Elena, 40, has a spouse and four children. She works in her business selling frozen potatoes. She sells it from place to place from a cart. She sells in variou... More from Qorilazo 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