The people in the area live of agriculture and cattle, They combine their domestic activities with these. Many of the partners also are stevedores (they load in their small dump trucks concrete, sand, stones, among others); The partners are extremely grateful by the offered help, therefore they promise to repay the loan on time.
This loan will used by 8 partners and they will invest it to buy sheep, and calves, in order to improve the race and then be able to sell their cattle at a better price. Two of partners will invest the loan in buying accessories for their heavy load dump trucks, this way they will be able to keep on being hired. Other 2 of the partners will invest the loan in buying cooking products like meat, potatoes, salt, lemons, vegetables, among others, since they sell meals at the local market and want to improve their service to attract more clients.
Este préstamo será invertido en, 08 socios invertiran para la compra de ovejas, y terneros, para mejorar la raza y así poder vender sus ganados a mayor precio, 02 socios invertirán el préstamo en la compra de accsesorios para sus bolquetes de carga pesada, de ese modo podrán seguir siendo alquilados; 02 socias invertirán el préstamo en la compra de productos para cocinar,ellas comprarán, carne, papas, sal, limónes, verduras, entre otras especies, puesto que ellas venden comida en el mercado local y desean mejorar sus servicio para atraer a más clientes.
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