Nueva Vida Group
Update on Nueva Vida GroupThe members belong to the Nueva Vida communal bank. This bank is located in the Cusco district, Cusco province, Cusco department.
Victoria, a member, is a 63 year old widow, and she has two children. She works in her business of selling clothes and lingerie. She sells sweaters, pants, shirts, and stockings, and other clothes. She works from 8:00 a.m. until 7:00 p.m. She takes her clothes to different places like institutions or to her friends. She has been in this business for eight years, and it is going very well for her. Her dream is to have a store where she would be able to sell the clothes. She is requesting the loan to buy sweaters, stockings, shirts, pants, and jackets.
The members whose photos are inserted into the group photo asked for permission due to work. The member whose face is covered with a circle no longer belongs to the Nueva Vida communal bank.
The other members have a printing business, a business selling handicrafts, a grocery store business, and a business selling food.
Victoria is grateful to those who form part of this dream by providing this loan. She pledges to make her payments according to the established time frame.
La socia es la Sra. Victoria ella es viuda y tiene 63 años y tiene 2 hijos; La socia trabaja en su negocio de venta de ropa y lencería, la socia vende chompas,pantalones,polos,medias entre otras ropas, la socia trabaja desde las 8:00 a.m hasta las 7:00 p.m llevando a diferentes lugares como instituciones o sus amigos, la socia ya tiene 8 años en este negocio y le va muy bien, el sueño de la socia es tener un atienda donde pueda vender la ropa. La socia solicita el crédito para comprar chompas, medias, polos pantalones y casacas.
Los socios que estan pegados a la foto grupal se les tomo la foto despues de la reunion porque pidieron permiso por motivos de trabajo.
El socio que esta tapado con un circulo su cara ya no pertenece al banco comunal Nueva Vida
Los otros socios se dedican al negocio de imprenta, negocio de venta de artesanías, 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 DetailsThe members belong to Nueva Vida Communal Bank, located in the district of Wanchaq in the province of Cusco and department of Cusco. The member, Irma, is 58 years old and married; she has two children. She works in her business selling clothing and lingerie. Irma sells stockings, polo… More from Nueva Vida 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
- Repayment Term
- 6 months (Additional Information)
- Repayment Schedule
- Aug 19, 2013
- Aug 29, 2013
- Currency Exchange Loss:
- Jan 17, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.