The Nuevo Amanecer La Rinconada bank was founded on February 5, 2009 by ten women and a man. The bank is located in the Andahuaylillas district of the Quispicanchis province in the Cusco department in Peru. The communal bank members are working women that share all the work activities. They live in a rural area where there are no commercial banks from which they can obtain credit to buy and sell a greater number of small animals in order to earn money for their households. In the rural area where they live, there has never been this type of help before, and so they have not been able to develop their small businesses. As a result, the area is still underdeveloped, but now they have the opportunity to grow their economy.
Este banco NUEVO AMANECER LA RINCONADA, se fundó el día 05 de febrero de 2009; esta conformado por 10 socias mujeres y 01 socio varon, Este banco se encuentra ubicado en el distrito de Andahuaylillas, provinvia de Quispicanchis, departamento del Cusco.
Las socias del banco comunal son mujeres trabajadoras y comparten sus actividades domésticas con dicha actividad, ellas viven en zona rural y aquí no existe la banca comercial por lo que valoran y aprecian mucho el crédito otorgado para la compra y venta de nuevos y mayor número de animales menores, para apoyar con este ingeso en su hogar, en la zona rural donde ellas viven nunca antes contaron con algún tipo de ayuda, por lo que no podían desarrollar su pequeños proyectos y no producian, esto generaba retrazo a la zona, ahora ellas tienen la oportunidad de incrementar su economía.
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.