Fe En Dios Group
Update on Fe En Dios GroupThe community bank “Fe en Dios" or "Faith in God,” is currently in its eighth loan cycle, and the partner meetings are every month in the central office of the Arariwa Association. The community bank is composed of 11 hard-working and ambitious people who look for opportunity at every moment in order to move forward and through daily efforts to provide a better future for their children. It is a community bank comprised of members that live in the city of Cusco. Cusco is a city that is known for its archaeological sites, its historic center, its scenery, its history, and for being a charming city in the Southern Region of the country.
Some of the economic activities of the members include: selling cosmetics, jackets, and shoes, renting scaffolds, and selling clothes, while others offer security and accounting services. The community bank has been functioning for several years, as the members can attest. The members are happy and satisfied with the credit services, savings and trainings. Due to the amount of time they have been with the communal bank, members are able to earn valuable compound interest on their savings.
Yorma forms part of the community bank “Faith in God.” She is 35 years old and was born in the city of Puno. She has two children named Luís Marcelo and Bryham. The two still depend on her, and she is both the mother and father of her children since she doesn’t receive support from her partner. Yomira alternates her home activities with commercial activities like selling coats, clothes and shoes. She tells us that the jackets that they sell are exported from the country of Argentina and they offer them to public institutions. The shoes are brought from the city of Puno and are offered to the sellers in various markets in Cusco. Yomira tells us that things went very well with the previous loan but this time she needs the loan to buy more merchandise exclusively for women.
She has now been working withe the communal banks for several years and also with the Asociación Arariwa, and it has gone very well thanks to the responsibility that characterizes her.
Las actividades económicas de algunos de los socios son por ejemplo; venta de cosméticos, venta de casacas, venta de zapatos, alquiler de andamios, venta de ropa y otros ofrecen servicios de seguridad y contabilidad. El banco comunal tiene varios años de funcionamiento, como manifiestan los socios. Los socios se encuentran contentos y satisfechos con los servicios de crédito, ahorro y capacitación, por el tiempo de permanencia en el banco comunal un aspecto de valoración es el ahorro por la posibilidad de capitalización que les brinda este servicio.
Yomira forma parte del banco comunal “Fe en Dios”, ella tiene 35 años de edad, ella nació en la ciudad de Puno, ella tiene dos hijos y se llaman Luís Marcelo y Bryham de la cuales los dos dependen todavía de ella, ella nos cuenta que es madre y padre para sus hijos pues no recibe apoyo de su pareja. Yomira alterna sus actividades del hogar con sus actividades comerciales como por ejemplo venta de casacas, venta de ropa y venta de zapatos. Ella nos cuenta que las casacas que venden son exportadas del país de Argentina y los ofrece a las instituciones públicas y los zapatos los trae de la ciudad de Puno y los ofrece a las vendedoras de los diferentes mercados de la ciudad del Cusco. Yomira nos cuenta que le fue muy bien con el anterior crédito pero en esta oportunidad ella requiere el préstamo para comprar más mercadería exclusiva para damas.
Ya son varios años que trabaja con los bancos solidarios y con la Asociación Arariwa y le ha ido muy bien gracias a la responsabilidad que le caracteriza.
Previous Loan DetailsThe communal bank "FE EN DIOS" (Faith in God) is in its third cycle. The member meetings are every 30 days in the main office of the Asociación Araiwa. The communal bank is made up of 10 hard working and entrepreneurial people who are always looking for ways to get ahead, and with their daily e... More from Fe En Dios 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