Yuli Magali's Group
Silvia is 55 years old and has five children. She has owned a bakery for the past 15 years. Now she has established clients who always buy from her every day.
Karina is 20 years old and owns a small café. She also goes to school where she studies accounting.
Yuli is 32 and has one son. She is a founding member of her community bank. Yuli sells clothing and cosmetics to her friends, family, and other associates at the bank.
Silvia, Karina, and Yuli need loans of 800 soles, 1000 soles, and 1000 soles (3 soles = $1), which they will invest in buying products for their businesses, such as flour, sugar, eggs, and more cosmetics.
The community bank emphasizes the importance of saving and each member has an interest-earning savings account. Silvia, Karina, and Yuli are saving for the education of their children, for an upcoming marriage, and to open a restaurant.
Each woman has her own dream. Silvia hopes for a better life for her children. Karina dreams of finishing her degree and getting married. Yuli hopes to one day open a restaurant and one day own a chain of restaurants across all of Peru.
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