Virgen De Los Angeles De Huayllacocha Group
Zoila is the president of the group. She is 60-years old, widowed, and has three adult children who are married and live on their own. Zoila makes a living selling jora, the fermented corn used to make a traditional Andean corn drink called chicha. She sells jora in the marketplace of Izcuchaca, a nearby transportation and commerce hub about a 20-minute drive from her rural town of Huayllacocha. In addition to selling jora, Zoila buys fava beans, barley, and wheat from local farms to sell in the markets.
She will use this loan to buy dried corn so that she can sell greater quantities of jora and other grain products in the marketplace.
(SABINA and MARCELINO are not pictured in the video)
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).
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