Juana is 27 years old and has three children. She has had a business making bricks for the past five years. She learned this trade while working in a larger brick-making operation but prefers having her own business.
Dina is 22 and has two children. She owns a bakery. Dina makes bread and then sells it from a stand in the town market.
Likewise, Liliana is in her 20s. She is 24 and has one child. Four years ago Liliana used a loan from her community bank to start a business selling fish. She sells the fish from a stand in front of her house.
Juana, Dina, and Liliana need loans of 800, 1000, and 800 soles respectively (3 soles = $1), which they will invest in buying more business supplies. With the loans they will able to buy in bulk and receive a lower price.
With the community bank each women has an interest-earning savings account. Juana, Dina, and Liliana plan to use their savings on their homes. They all dream that their children will have better lives and continue to move up in the world.
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