Norma Elida Guzman Urbina's Group

Norma is 41 years old. She is a single mom raising her three children. Norma runs a hostel. She has been running her business for fifteen years. Holy Week is next month and it is the biggest tourism event in the area. Norma plans to use her loan to make some repairs to her hostel in order to accommodate the tourists.

Esther is 28 years old. She lives with her partner and two young children. Teofila travels eight hours on poor roads twice per week to sell food staples such as flour, rice, and sugar in the jungle region. With loans from the community bank she has also been able to buy two motorcycle taxis, which she leases to people who drive them.

Teofila is 50 years old. She is married and has six children between the ages of thirty and eight. Teofila is an artisan weaver who concentrates on blankets. She has been weaving for eight years and sells her products from her home.

Norma, Esther, and Teofila need loans of 200, 1500, and 1000 soles (3 soles = $1), which they will use to buy decorations, new sheets, food staples, thread, yarn, and fabrics.

One of the most important aspects of the community banks is the interest-earning savings account each associate has. Norma, Esther, and Teofila plan to use their savings to buy a home, a van, and a sewing machine for a daughter who is studying to be a tailor.



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