In the community bank, they have learned to be responsible, punctual, and how to invest wisely in their businesses. They have also learned how to care for their children, have a positive relationship with their husbands, and to always smile.
Donatilda is 60 years old and is a single mother. She has four children, two of whom live with her. Donatilda sells fruit in the markets in the towns of Pampas and Ceccelambras. At the market she buys grains to sell in Ayacucho; she has had this business for three years.
Alfonsa is 30 and lives with her husband and three children. She owns a booth in the high school where she sells cookies and soft drinks. Furthermore, during school vacations she travels to other markets to buy grains and animals, which she sells in Ayacucho.
Susana is 50 years old. She is married and has 10 children, six of whom live with her. Susana sells bread, fruit, and vegetables in the markets around Ayacucho. From the markets she buys cheese, sheep, roosters, and grains to sell in Ayacucho. She learned this business from her grandmother.
Their loans are for 400, 800, and 1600 soles (3 soles = $1), which they will invest in buying bread, plantains, oranges, apples, avacados, sheep, pork, cheese, and potatoes.
They plan to use their savings to educate their children; decorate their homes; and treat illnesses.
Donatilda dreams of having a roof for her house, and educating her children, while Alfonsa dreams of buying land to cultivate, having a bigger business, and having enough to eat. Susana dreams that her children will get married and be able to build their own houses.
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