Olga has sold desserts in the Nery Garcia public market since she was very young. With this job Olga has been able to care for her children. On the other hand, Maria Alejandra travels every Sunday to the market in Vinchos, a small town about an hour away from the town of Huamanga by bus. There she sells fish, rice, sugar, fruits and vegetables. Sometimes Maria Alejandra prepares and sells fixed meals at the market. During the week she runs a business washing laundry.
Both Olga and Maria Alejandra have requested loans of 600 soles with which they will buy, gelatin, sugar, cups, plates, fish, vegetables, fruits, and other types of grocery items.
Olga is waiting to use her savings and build an adobe house. Maria Alejandra will use her savings to par for medical care for her youngest son. Eventually, she hopes to save enough to buy a minibus that her other son will drive.
Olga’s dream is to start a new business selling plastic wares, the same as her sisters. On the other hand Maria Alejandra dreams of buying a house in the center of the city where she can open a grocery store. Where she lives now is far away and not a good place for a business. Also, she would like to buy a small piece of land where she can grow vegetables.
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