Nuevo Progreso Group

Julia Arrece de Carhuapoma, a member of the Nuevo Progreso community bank in Ayacucho, Perú, lives with her husband and her three children aged 15, 12 and 9. She runs a grocery store in the area, sells meat, and operates a small restaurant patronized by many professionals and teachers visiting the area. When Julia first opened her store she did not have many patrons because she was still unknown, but since then the customers have increased. Since joining FINCA Perú she has been participating in training programs that help her improve her business. With the loan she is requesting, Julia will invest in her business by purchasing more products for her store and for her restaurant. She is saving for her dream of owning a car and helping her children continue their studies and becoming professionals.

Aida Rivas Rodriguez, also a member of the community bank, lives in Ayacucho with her husband and two children aged 10 and 7. She runs her own grocery store where there is a kiosk available to buy refreshments. When Aida opened her store, there was political unrest which caused some problems, but since then the area has become more tranquil. FINCA Perú, which Aida recently joined, has helped her improve her business. With the loan she is requesting, she will buy more products for her store. FINCA Perú emphasizes savings, and with her savings Aida dreams of her children continuing their education and being financially independent.




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