A loan of $4,800 helped a member purchase wool, thread, elastic, buttons, and other items.


Nueva Generacion Iii Group's story

The Communal Bank “Nueva Generacion III” (New Generation III) is currently in its thirteenth loan cycle and consists of twelve hardworking and enterprising individuals who view each moment as an opportunity to get ahead. Through their daily efforts, they are able to provide a better future for their children. The members of the Communal Bank live in the Province and Department of Cusco. Cusco is a city known for its archaeological sites, its Historical Center, its landscapes, and its history for being one of the most enchanting cities in the southern part of the country.

The business activities of the members include selling dry goods, snacks, groceries, food, or providing transportation services. The members indicate that the Communal Bank has participated in numerous loan cycles and that they are happy and satisfied with the loan services, savings, and training classes. One ongoing aspect of the Communal Bank that is of value is the group savings account that opens the possibility for building up assets, which is what this service provides.

Rosa is a member of the New Generation Communal Bank. She and the other members meet every 30 days at the central office of Asociación Arariwa. Rosa is 29 years old, in a common law marriage, and has three children (L., Sheyla, and Santos Ollantay). She wakes up very early to attend to her family, such as preparing breakfast for her children and getting them ready for school. After taking care of her household activities, she engages in her business of making woolen clothing by hand. For example, she weaves sweaters for newborn infants. Rosa has been in this business for 15 years and has done very well thanks to the effort she puts into her work. She inherited this business from her parents. Rosa needs a loan to buy balls of wool, thread, elastic, buttons, and other items.

The members, in general, are grateful for this opportunity and commit to making their payments on time.

In this group: Juan Pablo*, Elva*, Rosa Patricia, Olga, Elizabeth, Washington Genaro, Mariluz, Carlos, Yhon Davis, Monica, Conie Tracy, Edgar Mijael
*not pictured

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Translated from Spanish by Kiva volunteer Ronan Reodica



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