Yorina is 22 years old. She has run a small grocery store for the past three years; little by little she has been able to add more products.
On the other hand Maribel is 27. She is married and has four children. Maribel raises guinea pigs, which are considered a delicacy. In addition she grows carrots, spinach, and lettuce, which she sells in Ayacucho. She started raising cuy six months ago and now sells them to different restaurants in the region.
Lily is 28 years old and lives with her partner and two children. Lily also grows vegetables and raises cuys. She started raising cuys one year ago with only three and now has 180 which she sells in the city of Ayacucho.
Yorina, Maribel, and Lily need loans of 600, 750, and 300 soles (3 soles = $1), which they will invest in buying sugar, rice, cookies, chocolate, candies, medicines, seeds, fertilizer, and food for the cuys.
They plan to use their savings to build a house and add capital to their business. Their dreams are to own a home, that their children receive good educations, and that their businesses continue to grow.
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