The members of this bank work in commercial activities, such as selling seasonal agricultural products, corn, and groceries. Others work running a bakery.
These partners appreciate the support offered in these rural areas, as there are no micro finance institutions.
Los miembros de este banco se dedican a las actividades de comercio, en la modalidad de venta de productos agricolas de la época, vendiendo maíz, otros de ellos estan dedicados a la panadería y a la venta de abarrotes.
Estos socios agradecen el apoyo brindado en estas zonas rurales, ya que no existe intituciones microfinancieras.
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).
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