Agua Buena Group
Update on Agua Buena GroupThe members have belonged to the "Agua Buena" communal bank of Asociación Arariwa for some years, and it is going very well.
Matilde is 62 and lives in the beautiful city of Cusco. She sells vegetables such as carrots, onions, tomatoes and other things. She sells these products at a small stand she has in one of the popular markets in the city of Cusco. She is an enterprising and hard-working woman who is helping her family get ahead in life.
On this occasion she needs the loan to buy vegetables, such as potatoes, tomatoes, etc. The other members make a living with various businesses: a printing business, a business selling crafts, a grocery store and a business selling animal feed. The member is grateful to those who form part of this dream through this site, and promises to make her installment payments in a timely manner.
Matilde tiene 62 años y vive en la hermosa ciudad del Cusco, ella se dedica a la venta de verduras como por ejemplo zanahorias, cebollas, tomates y otras cosas mas, ella vende sus productos en el pequeño stand que tiene en uno de los mercados populares de la ciudad del Cusco, ella es una mujer emprendedora y trabajadora que saca adelante a su familia. En esta oportunidad requiere el préstamo para comprar verduras como por ejemplo papas, tomates, etc.
Los otros socios se dedican al negocio de imprenta, negocio de venta de artesanías, negocio de tienda de abarrotes y negocio de venta de pasto.
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 “Agua Buena” (“Good Water”) communal bank. This bank is located in the district, province, and department of Cusco. Member Mery is married. She is 38 years old and has four children. She works in a beauty salon as a cosmetician. She cuts hair, does hair colouring, up-... More from Agua Buena 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