San Lorenzo Group

The San Lorenzo Communal Bank started its first cycle with 14 members. Most of them are from the same neighborhood.

The members are engaged in different retail businesses selling cheeses, condiments, cosmetics, food, clothing, bread, and meat.

They need different loan amounts ranging from 300 soles, 600 soles, to 1050 soles for a total of 6150 soles to the entire Communal Bank. Their loans will be used to purchase cheese, bread, rice, sugar, oil, and cosmetics.

The members dream of having their own homes, encouraging their children to pursue professional careers, and improving their businesses.

Translated from Spanish by Ronan Reodica, Kiva Volunteer

El Banco Comunal San Lorenzo inicia su primer ciclo con 14 socias. La mayor parte de las socias son del mismo barrio.

Las socias realizan diferentes negocios como la venta de quesos, condimentos, cosméticos, comida, ropa, panes, carnes.

Las socias necesitan diferentes montos de prestamos como 300 soles, 600 soles, 1050 soles haciendo un total de 6,150 soles de prestamos en el Banco Comunal.

Sus prestamos serán invertidos en la compra de quesos, panes, arroz, azúcar, aceite, cosméticos.

Los sueños de las socias son tener casa propia, sus hijos sean profesionales y que sus negocios mejoren.



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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