Llanqac Illary Group
Update on Llanqac Illary GroupA group of neighbors and friends in Cusco joined together to form the "Llanqac Illary" Communal Bank.
Dorotea (the woman on the right in the photo raising her hand) is 45 and both a mother and father to her four children.
Dorotea is a kindhearted and charming person who runs a business preparing and selling typical regional foods such as rice with chicken, arroz tapado [rice layered with meat], roasted chicken, fried meat, and other dishes. Dorotea needs a loan to purchase supplies, including bags of rice, vegetables, cooking oil, and noodles.
The Llanqac Illary Communal Bank members are always looking for opportunities to improve their situations and strive each day to ensure a better future for their children. Some members make crafts, textiles, and jewelry while others sell cosmetics and provide transportation.
All of the Llanqac Illary members are grateful for the opportunities that loans provide them, and are committed to making payments on time.
Dorotea tiene 45 años de edad y es padre y madre de sus cuatro hijos, (En la fotografía la socia está levantando la mano).
Dorotea es una persona carismática y amable que sale adelante pues su actividad económica principal es la venta de comida típica de la región como arroz con pollo, arroz tapado, pollo al horno, chicharrón y otras cosas mas, ella en esta oportunidad requiere el préstamo para comprar insumos como por ejemplo sacos de arroz, verduras, aceite, carne, fideos y otros más.
Este banco comunal está conformado por varias personas que buscan a cada momento las oportunidades para salir adelante y con su esfuerzo diario entregar un mejor futuro a sus hijos. Los socios se dedican a la elaboración de artesanía, tejidos, joyas y otras se dedican a la venta de cosméticos y a brindar servicio de transportes.
Los socios en general agradecen la oportunidad brindada y se comprometen a cumplir con el pago de sus diferentes cuotas en los plazos establecidos.
Previous Loan DetailsA group of friends and neighbors formed the Llanqac Illary village bank in the city of Cusco. Marleny is 43 years old and has two children. (In the photo, she is raising her hand.) Marleny is very charismatic and friendly and works hard to get ahead. Her main source of income is her work sellin... More from Llanqac Illary 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