Albina's Group

Thank you for your loan. It has been disbursed to the group, consisting of Albina, Victoria, Maximiliana by FINCA Peru in Peru. We are excited to watch this business grow. Over the next 6 months, FINCA Peru will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

This is an update on Maximiliana, Victoria and Albina, three members of the Covadonga Village Bank whom you made a loan to last June.

Maximiliana used her Kiva loan to buy more meat and potatoes for her business selling anticuchos (beef-heart kabobs). She says that sales have improved since she invested the money. She plans to use the money from her FINCA savings to guard against any unexpected needs or emergencies.

Victoria used her Kiva loan of 300 soles to buy more lemons, onions and carrots for her business selling vegetables. She says that her business has remained the same, and plans to leave FINCA because she doesn’t like its obligatory savings program.*

Albina used her Kiva loan of 1500 soles to buy dry goods like rice, sugar and pasta, and to offer a wider variety of merchandise in her store. She has just finished her first year working with FINCA, and hopes to continue to work with the institution so that she can expand her business even more.

*Each group member must make an obligatory monthly deposit in their FINCA savings account each time they make a loan payment; the amount varies depending on loan size. Clients are free to deposit more than the required monthly minimum, and can earn interest on their savings when the money is lent internally to other group members. Clients may withdraw their savings as they please.