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Qorimakis Group
In this Group: Carmen Ruth, Sonia Patricia, Dominga, Edgar, Ines, Roxana, Reyna, Maria Luisa, Rocio, Alain Dick, Clever Ronald, Jose Arturo, Jose Jose
This bank is called "QORIMAKIS", a Quechuan name, which etymologically speaking, comes from "Gold" (Qori) and Hands (Makis): so the name translates as "Golden Hands". This group consists of 13 members, from the southern area of the town of Cusco. The members work in different areas. Four are artisans working with clay, wood, leather and other materials. Another three members are retail merchants who buy and sell potatoes in the central market. Another two members work buying clothes wholesale in the capital and bringing them to Cusco to sell. Another two members have a small stationary shop and buy school equipment to sell in their area: in two more weeks' time the school term will start in Peru's different schools.

The small businesses in which these members have invested provide the money to pay school fees and other personal expenses. The members are very grateful for the support lent through this means and promise to promptly repay the entire loan within the agreed time.
View original language description ↓
Este banco se denomina “QORIMAKIS”, nombre quechua; que etimológicamente significa, Qori oro y Makis significa manos; la traducción vendría hacer “manos de oro”; Este grupo conformado por 13 miembros, están situados en la zona sur de la ciudad del Cusco.

Los socios se dedican a diferentes actividades, 04 de ellos son artesanos, trabajan con arcilla, madera, cuero, y otros elementos, otros 03 socios son comerciantes minoristas ellos compran y venden papas en el mercado central, otros 02 se dedican a la compra de ropa al por mayor en la capital y la traen a Cusco a vender, otros 02 socios tiene su pequeña librería y comprarán útiles escolares para vender en su barrio, en 02 semanas más se iniciarán la labores escolares en los diferentes colegios de Perú, dentro de los pequeños negocios en los que invertirán estos socios están los pagos de las matrículas y otros gastos personales.

Los socios agradecen el apoyo prestado mediante este medio y se comprometen a pagar las cuotas y el total de la deuda en el plazo determinado.

Additional Information

Important Information

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.

About Peru

  • $6,715
    Average annual income
  • 114
    View loans »
    Peru Loans Fundraising
  • $56,753,850
    Funds lent in using Kiva
  • 3.3
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A portion of Qorimakis Group's $2,625 loan helped a member purchase raw materials for artesanal activities,clothes to sell and general school materials.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 4, 2009
Listed
Mar 11, 2009
Currency Exchange Loss:
Covered
Ended:
Aug 15, 2009