Banco Del Desarrollo Group
Update on Banco Del Desarrollo GroupA group of friends and neighbors from the city of Cusco formed the “Banco de Desarrollo” (Development Bank) communal bank. It consists of people who are always seeking ways to get ahead and with their daily effort provide a better future for their children. The members carry out a variety of economic activities like clothing sales, food sales, office supplies sales. Some of the members work providing tourism services and computer services and others work in hospitals, dental clinics and other private and public entities.
Carmen, 32, was born in Cusco and she has a beautiful son. She works managing a pastry shop and does very well. She also has her own business, a hardware store. She’s had it for seven years now and does excellently well thanks to the effort she puts into her work. On this occasion, Carmen wants to buy merchandise like nails, paint and other things needed in the store.
The members in general are grateful for the opportunity being provided and commit to make their payments as scheduled.
Cusco is located in Cusco District, Province and Department in the very heart of the ancient city of the Incas and it’s noted for being a tourist destination because of its archaeological sites, its historic city center, its scenery and its history. It’s an enchanting city in the southern part of the country. Cusco is commercial, known as a tourism center and for its traditional Inti Raymi festival and because one of the Seven Wonders of the World, Machu-Picchu, is located here.
Los socios en general agradecen la oportunidad brindada y se comprometen a cumplir con el pago de sus diferentes cuotas en los plazos establecidos. Cusco está ubicado en el distrito y provincia del Cusco del departamento del Cusco en pleno corazón de la antigua ciudad de los Incas y se caracteriza por ser una zona turística por sus centros arqueológicos por su centro histórico por sus paisajes por su historia y siendo una ciudad encantadora de la Región del Sur del país. Cusco es conocido por ser una zona muy turística, comercial, por su fiesta tradicional del Inti Raymi y porque se encuentra una de las siete maravillas del mundo “Machupicchu”.
Previous Loan DetailsA group of neighbors and friends formed the Communal Bank “Banco del Desarrollo” (Bank of Development) in the city of Cusco. This Communal Bank consists of individuals who look for opportunities to get ahead and strive each day to provide a better future for their children. The businesses the m... More from Banco Del Desarrollo 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