Canaria Group

The members of the Communal Bank “Canaria” are from the Community of Canaria, Canaria District, Province of Victor Fajardo. The community has a population of approximately 300 “comuneros.” The community is located six hours away from the city of Ayacucho and is primarily sustained by farming and raising livestock.

The members of the bank are involved in different activities, like Flora who is married with an 8-year-old son. Flora has a store in her house, where she sells basic groceries. Flora started this store when she was young. The loan she hopes to get will be invested in the buying of more merchandise to sell in her store. Flora dreams of her son becoming a professional.

Felicitas is married and has two children, 10 and 12 years old. Felicitas has a grocery store in her house, where she also has Internet stations. Her children help her in their free time. With the loan she hopes to obtain, she is going to invest in buying more groceries. Felicitas aspires to move forward and to raise her children well.

Marisol lives with her partner and has an 8-year-old son. Marisol has a car with which she transports passengers and sells groceries at different fairs in the region. At the fairs she also buys cereals. With the loan Marisol hopes to obtain, she has plans to buy groceries and cereals. Marisol dreams of saving up money and educating her son.




About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

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