Los Olivos Group

The Los Olivos communal bank starts its 4th loan cycle with 21 members who live in the Los Olivos association.
The members have different businesses such as the sale of juices, groceries, cosmetics, food, cheeses, jewelry, root vegetables and small livestock.
For example: Odilia is married, 57 years old and has 8 children. Odilia has a store in her house where she sells basic goods and drinks, which is something she does with the help of her children.
Nuria is single, 47 years old and has 4 children. Nuria has a convenience store in her house where she sells basic goods and in addition, at night sells salchipapas (fast-food dish of fried hot dogs and french fries) from the store. Nuria also sells juices in the central market with the help of her daughter.
The members need different loan amounts from the communal bank. Their loans will be used to buy rice, sugar, a variety of fruit, oil, meat, small livestock and cosmetics.
The members dreams are to improve their businesses and that their children finish their schooling and have stable businesses.

Translated from Spanish by Molly Puglisi, Kiva Volunteer

El Banco Comunal Los Olivos inicia su cuarto ciclo con 21 socias, las socias viven en la Asociación Los Olivos.

Las socias realizan diferentes negocios como la venta de jugos, abarrotes en general, cosméticos, comida, quesos, joyas, tubérculos, animales menores.

Como es el caso de Odilia que es casada, tiene 57 años y 8 hijos, Odilia tiene una tienda en su casa en donde vende abarrotes en general, bebidas, actividad que realiza con la ayuda de sus hijos.

Por otro lado Nuria es soltera, tiene 47 años y 4 hijos, Nuria tiene una bodega en su casa en donde vende abarrotes en general, además por las noches vende salchipapas en la puerta de su tienda. También Nuria vende jugos en el mercado central para lo cual cuenta con la ayuda de su hija.

Las socias necesitan diferentes montos de prestamos como 300 soles, 600 soles, 900 soles haciendo un total de 11,850 soles de prestamos en el Banco Comunal.

Sus prestamos serán invertidos en la compra de arroz, azúcar, frutas, variadas, aceite, carne, animales, menores, cosméticos.

Los sueños de las socias son que sus negocios mejoren, sus hijos culminen sus estudios y tener negocios estables.




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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