Virgen Del Carmen De Vizcochoni Group
Update on Virgen Del Carmen De Vizcochoni GroupA group of friends and neighbors formed the “Virgen del Carmen de Vizcochoni” communal bank in the Vizcochoni community. This communal bank is made up of various persons who constantly search for opportunities to get ahead and provide a better future to their children through their daily efforts. The members are farmers, sell food and prepared food, raise livestock, make arts and crafts, raise small animals, and other things.
Dominga is 46 years old and is a responsible, friendly person who gets her family ahead. She’s from Vizcochoni, 20 minutes from the capital of the Huancarani district. She is a farmer, and raises small animals, and livestock. She has been with the communal bank for several years and needs a loan to buy seeds and fertilizer.
The members are grateful for the opportunity and are committed to making their payments on time. (The people in the lower part of the photograph were not able to attend the meeting) (The Vizcochoni community is located in the Colquepata district, within the Paucartambo province, in the Cusco department of Peru.)
Dominga tiene 46 años de edad y es una persona responsable y amable que saca adelante a su familia, ella vive en la comunidad de Vizcochoni a 20 minutos de la capital del distrito de Huancarani, ella se dedica a la agricultura, crianza de animales menores y ganaderia, ella desde hace varios años que participa en el banco comunal y en esta oportunidad requiere el préstamo para comprar semillas y abono.
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 personas que aparecen en la parte inferior de la fotografia pidieron permiso para no estar en la reunion y tuvimos que buscarles en sus domicilios).
(La comunidad de Vizcochoni está ubicado en el del distrito de Colquepata dentro de la provincia de Paucartambo del departamento del Cusco, Perú).
Previous Loan DetailsA group of neighbors and friends formed the Communal Bank “Virgen del Carmen de Vizcochoni” in the community of Vizcochoni. This Communal Bank consists of several people who look at each moment as an opportunity to move forward. Through their daily efforts, they have been able to provide a bett... More from Virgen Del Carmen De Vizcochoni Group's previous loan »
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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