A loan of $4,925 helped a member josefina needs funds to buy rice, sugar, pasta, cooking oil and potatoes.

Progreso Group's story

The “PROGRESO” communal bank composed of 14 hard-working, enterprising members, who are always looking for opportunities to get ahead in life and offer their children a better future through their own efforts, is currently in its 6th loan cycle. It is represented by its president, Bertha, its secretary, Susana and Yeni Pilar, treasurer. Members meet every 30 days in the Asociación Arariwa’s microfinance unit’s offices.

Members are involved in a variety of commercial activities, such as the sales of: snacks, cosmetics, videos and CDs, food, clothing, soups and healing creams, oil paintings. Others work as kitchen helpers and stevedores.

The bank has had several loan cycles and, as the members state, they are happy and satisfied with credit services, savings and training and the length of time the bank has been in existence.

Josefina is 57 years old, married and a member of “Progreso.” She peddles prepared meals at an industrial park in Cusco. She rises at 2am to prepare her meals and then goes out to sell them from 6am until 10am daily. In the afternoon, from 2pm until 4pm, she does her marketing to buy the ingredients for next day’s meals.

She has been in this line of work for 12 years now and does well thanks to the efforts she puts into it. She used to have an eatery near the Coca-Cola bottling plant but she didn’t fare well and had to leave that location. Currently, she sells from a portable cart. She needs funds to buy rice, sugar, pasta, cooking oil and potatoes.

The members as a group are grateful for the opportunity they have been given and pledge to repay in a timely fashion.

Cusco is a city famous for its archaeological sites, its historic city center, its scenery and its history being an enchanting city in the south of the country.

In this group: Josefina, Veronica, Simeona, Yeni Pilar, Carlota, Paulina, Bertha, Yaklin Yessica, Susana, Feliciano, Ibet, Karina, Martha, Gertrudes, Judith, Cristobal

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Translated from Spanish by Kiva volunteer Polliz

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