Update on Kusikoyllor GroupSra. Hermila is 69 years old, married, and has four children. She works in her business of selling handicrafts. The products she makes, such as dolls and key rings, are distributed to different stores that sell handicrafts in the city of Cusco. Hermila works from 8am to 6pm. Through this business, she is able to help her children move forward. Hermila wants to expand her handicraft business, so she is requesting a loan to buy materials such as wool, fabric, and thread for making key rings and dolls.
The other members engage in businesses such as restaurants, auto repair shops, grocery stores, selling food, and selling beauty products. They all continue with the Communal Bank “Kusikoyllor”. No one has left the group since they have all done well in their different businesses.
Hermila is grateful to everyone who has helped her to fulfill her dream, so she promises to complete her payments according to the established terms.
Los otros socios se dedican al negocio de restaurant, negocio de venta de taller de mecánica, negocio de tienda de abarrotes, negocio de venta de encomiendas, negocio de venta de productos de belleza.
Todos los socios continúan en el banco comunal Kusikoyllor, nadie se retiro a todos les fue muy bien en sus diversos negocios que realizaron.
La socia agradece a quienes forman parte de este sueño mediante este medio y se compromete a cumplir con el pago de sus cuotas en el plazo establecido.
Previous Loan DetailsThe members belong to the Kusikoyllor Communal Bank. This bank is located in the Cusco district, Cusco province, Cusco department. Valentina is a member. She is 47 years old, married, and has two children. She works in her business of raising guinea pigs. She fattens them, and the guinea p... More from Kusikoyllor Group's previous loan »
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).
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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
- Repayment Term
- 6 months (Additional Information)
- Repayment Schedule
- Nov 30, 2011
- Dec 4, 2011
- Currency Exchange Loss:
- Apr 15, 2012
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.