Nueva Ilusion Group
Rosa is the president of the communal bank and has an artisan business. She is 50 years old, and has three children who are all grown. One is working and the younger two are completing their university studies. Rosa makes different types of artisanal goods such as traditional local dolls from Ayacucho, and bags and blankets maD. of handwoven wool.
She will be using her loan of 300 PEN to purchase supplies for her business, such as wool. She sells the products in the local fairs of Huancayo, a neighboring province. She also receives special orders for her products. She has been a member on and off of FINCA Peru since 2000.
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