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Riqueza Group
In this Group: Armanda, Julian, Yola, Ruth, Gladis, Ciprian, Elisa, Erlinda, Paulino , Alejandra
The communal bank "Riqueza" is in its fifth loan cycle at FINCA Peru. Its 10 members have businesses selling clothes, electronics, textiles, and vegetables. The group is taking out a loan total of 7,350 PEN.

Elisa is the president of the bank, and is 23 and single. She has a clothes-making business and will be using her loan of 1,050 PEN to purchase fabric in Lima to make clothes to sell in Ayacucho. She has had her business for two years and has been with FINCA Peru for the same amount of time. She would like to continue to grow her business and sell more clothing.

Additional Information

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.

About Peru

  • $6,715
    Average annual income
  • 78
    View loans »
    Peru Loans Fundraising
  • $55,189,275
    Funds lent in using Kiva
  • 2.8
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A portion of Riqueza Group's $2,650 loan helped a member to purchase fabric to make clothes to sell.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 24, 2011
Listed
Mar 26, 2011
Currency Exchange Loss:
Covered
Ended:
Aug 24, 2011