The Community Bank "Cusibamba" has loaned out their first loans to 14 members. Most of the members live in the community of Cusibamba in the Morochucos District, in Cangallo province. The community is located 2 hours from the city of Ayacucho. The major occupation in the region is milk farming.
The members all carry out different occupations, such as raising livestock, milk production, and running grocery stores.
The members requires different loan amounts, such as 300 soles, 600 soles, 900 soles, altogether adding up to loans of 6900 soles through the community bank.
The loans will be invested in the purchase of rice, sugar, and ingredients for cheese making.
Their dream is to improve their businesses and to proviD. a good education for their children.
Las socias realizan diferentes negocios como L. crianza D. ganado vacuno, producción D. leche, y L. venta D. abarrotes en general.
Las socias necesitan diferentes montos D. prestamos como 300 soles, 600 soles, 900 soles haciendo un total D. 6,900 soles D. prestamos en el Banco Comunal.
Sus prestamos serán invertidos en L. compra D. arroz, azúcar, insumos para L. elaboración D. quesos.
Los sueños D. las socias son mejorar sus negocios y brindar una buena educación a sus hijo.
About FINCA PeruThis loan is administered by FINCA Peru, one of Kiva’s Field Partners in Peru. FINCA Peru is dedicated to empowering socially and economically disadvantaged women in Peru, contributing to the development of their families, and building sustainable communities.
In 1990, FINCA Peru began by lending to a small group of women widowed by the Shining Path terrorist movement in Ayacucho. Beyond loans and financial services, FINCA offers business development training, personal and family development training, gender empowerment sessions, life insurance products, and financial and social literacy sessions for the children of borrowers. Visit FINCA Peru’s Kiva Field Partner page to learn more.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid