Hilda Apaza Quispe

Thank you for your loan. It has been disbursed to Hilda Apaza Quispe by Manuela Ramos / CrediMUJER in Peru. We are excited to watch this business grow. Over the next 3 months, Manuela Ramos / CrediMUJER will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

As a Kiva Fellow living in Puno, Peru, I had the opportunity to meet with Hilda Apaza Quispe and discuss her most recent loan through the Microfinance Institution (MFI), Manuela Ramos, through Kiva. Hilda is a member of the community bank, “El 24 de Junio” (“June 24th”) and has been taking out loans with Manuela Ramos for three years. With her most recent loan of $500, Hilda purchased potatoes and rice. She travels with her nephews, in their truck, to Desaguadero, about two hours south of Puno, to purchase the food, and sells the food in Tacna, Peru. The journey to Tacna takes about 24 hours round trip, but it is worth it because the prices for potatoes and rice are much higher there.

In the past, Hilda purchased small animals, such as guinea pigs, sheep and chickens, which she fattened on her small plot of land and sold at the local market in Ilave. Hilda decided to change her business to buying and selling rice and potatoes because the potential profits are much higher. She is very appreciative of her loans from Manuela Ramos because they have allowed her to save some money, increase her capital, and change her trade.

A glimpse at the MFI, Maneula Ramos: Manuela Ramos is an organization that was founded in Peru in 1978 and is dedicated to the implementation of programs and projects that advance the rights of Peruvian women. They have more than ten offices throughout Peru and seven of those are operating with a microfinance program. Their programs include educating women, primarily in the rural areas of Peru, about gender equality, domestic violence, women’s rights and environmental awareness. Twelve years ago, Manuela adopted a Microfinance program, CrediMujer, that assists groups of 15-30 women in coming together, forming a community bank and taking out a loan together that they use for their individual businesses; this is where Kiva comes in, providing interest free capital for Manuela Ramos to loan. These community banks allow women to work together in idea building and sharing, create accountability to repay the loan (if one women defaults then the entire community bank defaults and no woman in this bank may take out another loan) and enable the organization to work more efficiently (the loan officers make visits to the community bank meetings rather than each individuals place of business).