Update on Kutimuy GroupThese are the members of the community bank "Kutimuy", located in the district of Cusco, in the province and state of the same name.
Maria Belen, 42, is single and has 2 children. She works in her grocery store, selling basic goods like rice, sugar, milk and oil. She has a stall in the market where she sells her groceries from 8am to 6pm. She has been in this business for one year and it's going very well. Her dream is to increase her business. She asks for a loan to buy milk, sugar, oil and rice.
She thanks those who are part of her dream in this way, and promises to make her payments on the established schedule.
The other members of the group have businesses including clothing sales, a bookstore, grocery store, and selling snacks.
La socia es la Sra. Maria Belen ella es soltera y tiene 42 años y tiene 2 hijos; La socia trabaja en su negocio de tienda de abarrotes, la socia vende productos de primera necesidad como arroz,azúcar,leche y aceite, la socia tiene un puesto en el mercado que es una tienda de abarrotes, la socia trabaja desde las 8:00 a.m hasta las 6:00 p.m, la socia ya tiene 1 año en este negocio y le va muy bien, el sueño de la socia es ampliar el negocio de tienda de abarrotes. La socia solicita el crédito para comprar leche, azúcar, aceite y arroz.
Los otros socios se dedican al negocio de venta de ropa, negocio de venta de librería, negocio de tienda de abarrotes y negocio de venta de golosinas.
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 of the "Kutimuy" communal bank meet every thirty days in the offices of the microfinance arm of the Asociación Arariwa in the city of Cusco. The communal bank is now in its 21st loan cycle and is made up of several hard working and entrepreneurial people. They seek opportunities in ev... More from Kutimuy 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
- Sep 13, 2013
- Sep 19, 2013
- Currency Exchange Loss:
- Feb 17, 2014
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.