The “Tigresas” Communal Bank was founded on January 23, 2006. It is currently in its fifth cycle and the members incluD. 11 women and one man. It is a communal bank comprised of people that live in the San Jerónimo district located 20 minutes from the city of Cusco. They work offering agricultural products and services and selling food in the market. The female members of the communal bank are mothers who contribute in an important way to the income of their family economic unit, combining their own activites at home with the businesses that they administer. The credit that they receive allows them the possibility to contribute and to capitalize on the entrepreneurial initiatives that each one of them has to generate income and contribute to the family budget. This aspect is of vital importance in their personal growth as women.Translated from Spanish by Hugh Yarbrough, Kiva Volunteer.
El banco comunal las “TIGRESAS”, se fundo el 23 D. enero del 2006, actualmente se encuentra en el V ciclo 11 mujeres y 01 varón, es un banco comunal conformado por socias que viven en el distrito D. San Jerónimo ubicado a 20 minutos D. la ciudad del Cusco, las actividades económicas a las que se dedican son el comercio D. productos agrícolas y servicios venta D. comidas dentro del mercado).
Las integrantes del banco comunal son madres D. familia que contribuyen D. manera importante con los ingresos D. la unidad económica familiar, combinando actividades propias del hogar y los pequeños negocios que administran. Los créditos a los que acceden, les brinda la posibilidad D. contribuir y capitalizar las iniciativas emprendedoras que cada una D. ellas tiene para poder generar D. ingresos y contribuir al presupuesto familiar, aspecto que tiene vital importancia en el crecimiento personal como mujer.
About 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.