Update on Sembrando GroupMost of the members of “Sembrando” Communal Bank are still participating in the program and they are doing well because they're responsible with their payments. The Communal Bank is currently on its second cycle (each cycle lasting 4 months) and is comprised of nine hardworking people with a marked entrepreneurial spirit who tirelessly seek ways to move forward and give their children a better future. Most of the members live in the city, where they also have their livelihoods. Cusco is widely known as a city for tourism and trade, hosting the traditional Inti Raymi festivity and one of the seven wonders of the world, “Machupicchu”.
Our featured member, Junia, was born in Pomacanchis District, in the Acomayo Province of the Departament of Cusco. She is 46 and has a 19-year-old son that attends a technical school. She works as a teacher for children with special needs as part of the ECEBE Program in Cusco City and also belongs to SAANEE's working group (SAANEE stands in Spanish for the Service for Bringing Diversity to Special Educational Needs).
She says she lived in Lima from age 5 to 27, where she studied in one of the most prestigious local universities but she now lives in Cusco. She has been working in her field for several years and has done well thanks to her dedication. She is asking for this loan for personal use, i.e., providing education to her son.
All members appreciate the loan and are thankful for the opportunity given and promise to make their payments on time, according to schedule. (The lower right end of the main picture shows the member that arrived late to the meeting).
La socia Junia nació en la distrito de Pomacanchis provincia de Acomayo departamento del Cusco y tiene 46 años edad, ella tiene un hijo de 19 años que está estudiando en un instituto superior, ella es profesora de educación especial en el programa ECEBE de la ciudad del Cusco, ella también pertenece al equipo de trabajo SAANEE (Servicio de Atención a la Diversidad a las Necesidades Educativas Especiales.).
La socia nos cuenta que desde los 5 años hasta los 27 años edad vivió en la ciudad de Lima y donde estudió en una de las universidad más prestigiosas de la ciudad de Lima pero actualmente vive en la ciudad del Cusco, Ya son varios años que se dedica al trabajo y le ha va muy bien gracias al empeño que pone a sus funciones, ella requiere el préstamo para uso personal ósea para la educación de su hijo.
Los socios valoran y agradecen el préstamo otorgado mediante este medio y así mismo se comprometen a cumplir con el pago de sus cuotas en el plazo establecido. (En la parte inferior de la fotografía aparece la socia que llego tarde a la reunión).
Previous Loan DetailsMagdenia was born in the city of Espinar and has lived in Cusco for the last 24 years. (She is raising her hand in the photo.) Magdenia, 24, is in a common law relationship. She’s a hardworking, responsible, professional woman. She’s a teacher working in a school in the city of Cusco. She’s... More from Sembrando 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