Lorenza is 52 years old. She is married and has 11 children, 4 of whom live with her. Lorenza sells fruits at the different markets around the region. From the markets she buys grains, cheese, young animals, and other products which she sells in Ayacucho.
On the other hand, Fortunata is 42 years old. She is a single mother and has one son. Fortunata has a grocery store in the small town of Rosaspata in the Vinchos district.
Teofila is 40 years old. She is married and has seven children. For the past two years Teofila has sold vegetables in the Grau market of Ayacucho. Before that she traveled to different markets buying and selling products, but this business was not making a profit.
Lorenza, Fortunata, and Teofila need loans of 600, 400, and 800 soles (3 soles = $1), which they will invest in buying beans, barley, cheese, onions, carrots, corn, chili pepper, lemon, sugar, rice and tuna, which is a local fruit that comes from a cactus.
In their community bank they have learned to be punctual and responsible, how to care about hygiene, and about good nutrition.
Lorenza, Fortunata, and Teofila dream of building a house, having more capital for their businesses, and that their children will be professionals.
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