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Virgen De Las Mercedes Group
In this Group: Teofila, Norma, Ana Maria, Edith Magdalena, Maximiliana, Mary Margoth, Cirila, Felicitas, Haide, Sabina, Juana, Maximiliana, Leonicia, Alejandra, Herminia, Margarita, Florencia
Virgen D. las Mercedes is a small rural community bank of FINCA Peru’s Wari project, which provides its credit with education services in the rural areas of Huancavelica. Huancavelica is considered one of the poorest regions of Peru and has many limitations, being a very mountainous area (the altituD. ranges from 6,000 to 17,000 feet above sea level), the cold, the difficulty of growing crops and the lack of an adequate infrastructure of roads and communication systems.

BCR Virgen D. las Mercedes has its base in the capital of the province of Churcampa, which is located at over 10,000 feet above sea level. Currently the bank has completed 2 loan cycles in just one year of existence with 17 female borrowers. Some of the group members live in small communities outsiD. the city of Churcampa, in places like El Carmen and Chupas, more than an hour of walking distance away.

The members of the bank, during their one year in FINCA Peru, besides having learned to be responsible and punctual, are learning more and more about savings and how to invest their loans. The group was able to save over 5,500 soles (about $1,800) in the first 2 loan cycles and will continue to save in the future. For all members, the main use of the savings is for the education of their children: buying school uniforms, supplies, books and even to pay for entering primary or secondary school. Another dream they have for the use of their savings is to be able to make renovations to their houses, like constructing another floor or changing the roof to a more sustainable one.

All members have different enterprises, ranging from raising guinea pigs, having a kiosk with sweets and juices close to the primary school, selling food and ice creams, buying and selling small animals, selling potatoes, selling chicken or having grocery stores.

Every member has a different testimony, as is the case of 36-year-old Mary O. C., who has a small grocery store in the central square of Churcampa, where she also sells homemaD. sweets. As with many women, she has more than one occupation: she also buys and sells chicken. The chicken she buys in a major city that is more than 8 hours away by public transport. Her dream is to grow her business and keep on saving to be able to pay for the education of her 3 children. Her new loan she will use for buying more groceries for her store.

Another story is the one of Edith A. G., who has a grocery store and buys and sells small animals like sheep and lamb. Those are the businesses she runs during the whole year, but living in a rural area, she also has fields of corn and is waiting for the harvest in May to be able to sell her corn. Her new loan she will invest in buying more small animals.

As the women of the group have different businesses, different businesses require different loans. The loans range from 200 soles, 400 soles, and 600 soles up to 1200 soles, and the total of the loans reaches 8,900 soles among the 17 members.

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

  • $12,000
    Average annual income
  • 175
    View loans »
    Peru Loans Fundraising
  • $60,197,200
    Funds lent in using Kiva
  • 3.0
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A portion of Virgen De Las Mercedes Group's $3,025 loan helped a member as the women of the group have different businesses, different businesses require different loans. The loans range from 200 soles, 400 soles, and 600 soles up to 1200 soles, and the total of the loans reaches 8,900 soles among the 17 members.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Feb 4, 2008
Jan 21, 2008
Currency Exchange Loss:
Aug 5, 2008