The communal bank Nueva Ilusion is starting its fifth loan cycle with 17 members. The members operate various businesses, in which they sell groceries, clothing, handicrafts, alfalfa, cheap goods, and food. Such is the case of Rosa, who is the president of the communal bank. She is 49 years old, married, and has 3 children. She buys and sells handicrafts at fairs in the city of Huancayo, and she also plans to participate in the fairs in Lima. Furthermore, Rosa knits scarves and hats that she also sells at the fairs. Her loan will be invested in the purchase of various colors of wool. Her dreams are to expand her business, sell her products abroad, learn to weave using a loom, and to have a poultry store. The members are requesting different sums of money, such as 300 soles, 450 soles, 600 soles, and 750 soles, adding up to a total of 10,300 soles.
El Banco Comunal Nueva Ilusión inicia su quinto ciclo con 17 socias.
Las socias realizan diferentes negocios como la venta D. abarrotes en general, ropa, artesanía, alfalfa, chatarra y comida.
Como es el caso D. la Señora Rosa que es presidenta del Banco Comunal, Rosa es casada, tiene 49 años y 3 hijos, Rosa compra y venD. artesanías ayacuchanas en las ferias artesanales D. la ciudad D. Huancayo, y tiene proyectado participar en las ferias D. la ciudad D. Lima, Además Rosa realiza tejidos D. bufandas, gorros que también venD. en las ferias. Su préstamo será invertido en la compra D. lana D. diversos colores. Los sueños D. Rosa son ampliar su negocio, vender sus productos en el extranjero, aprender a realizar tejidos en telar y tener una polleria.
Las socias necesitan diferentes montos D. prestamos como 300 soles, 450 soles, 600 soles, 750 soles haciendo un total D. 10,300 soles.
About FINCA Peru
This 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.