Amigos Del Milenio Group
Update on Amigos Del Milenio GroupThe members belong to the "Amigos del Milenio" communal bank. This bank is located in the district of Cusco, which is in the province of Cusco and the department of Cusco.
The member Sonia is 55 years old, has four children, and is in a common-law marriage. The alternates between her daily activities and her printing business. She has had this business for years and it's going very well for her thanks to the effort she puts into it every day. She is a responsible and hardworking person; she would like to continue working so that she can continue supporting her family.
Sonia is requesting the loan for the purchase of paper, ink, and more. The other members earn their livings with a hardware business, by selling beauty products, by selling phone calls, and by working in the private sector. Sonia feels grateful for the loan granted and she promises to make her loan payments.
La socia Sonia tiene 55 años de edad ,04 hijos y es conviviente, la socia alterna sus actividades diarias con el negocio de imprenta, la socia lleva años en este negocio el cual le va bien gracias al empeño que le pone cada día a su negocio, la socia es una persona responsable y empeñosa, la socia desea poder seguir trabajando para de esta forma seguir apoyando a su familia.
La socia solicita el préstamo para la compra de papeles, tintas entre otros.
Los otros socios se dedican al negocio de ferretería, venta de productos de belleza, llamadas telefónicas, venta de productos de belleza, trabajadores del sector privado.
La socia se siente agradecida por el crédito otorgado y se compromete a cumplir con sus cuotas establecidas.
Previous Loan DetailsThese members belong to the 'Amigos del Milenio' community bank which is located in Cusco district, in Cusco province and department. Rosario is 49 years old, married and has two children. She divides her time between her daily activities and her business selling beauty products such as… More from Amigos Del Milenio 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