Buena Esperanza Group
Update on Buena Esperanza GroupThese members belong to the Communal Bank “Buena Esperanza” (Good Hope) which is located in the District of Cusco in Cusco Province, Department of Cusco.
One of the members is Sra. Carmen. She is 33 years old, in a common-law relationship, and has two children. Carmen divides her time between her daily activities and her business of selling fruit at one of the markets in the city. She has been in business for a long time and is doing well thanks to the effort she puts forth each day into her work. Carmen sells bananas, oranges, papayas, and other fruits. She is a responsible and industrious person, and working in this manner has helped to move her family forward.
Carmen is requesting a loan in order to buy fruits for her business, such as papayas and other products. The other members sell clothes, sell cosmetics, act as tour guides, raise animals, produce handicrafts, prepare snacks, manage a grocery store, and sell beauty products. The small photos display two members who requested permission to arrive late to the meeting because of their work.
Carmen is grateful to those who have helped to fulfill her dream in this manner, so she promises to complete her payments according to the established terms.
La socia es la Sra. Carmen ella es conviviente, tiene 33 años de edad y tiene 02 hijos; La socia alterna sus actividades diarias con el negocio de venta de frutas en uno de los mercados de la ciudad, la socia lleva buen tiempo con su negocio el cual le va bien gracias al empeño que le pone cada día a su negocio, la socia vende plátanos, naranja, papaya entre otros, la socia es una persona responsable y empeñosa siendo de esta forma que la socia saca adelante a su familia.
La socia solicita el crédito para la compra de frutas para su negocio como papayas entre otros.
Los otros socios se dedican a la venta de ropa, venta de cosméticos, guía de turismo, crianza de animales, artesanía, preparación de bocaditos, tienda de abarrotes, venta de productos de belleza.
Las socias que salen en la foto adjunta pidieron permiso para llegar tarde a la reunión por motivos de trabajo.
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 DetailsThese members belong to the "Buena Esperanza" ("Good Hope") communal bank, which is located in the district, province, and department of Cusco. María Angélica, one of the members of this group, lives with her partner and has two children. She continues to sell breakfasts and juice. She has bee... More from Buena Esperanza 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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