Gualberta is 42; she is married and has four children. Gualberta has a small store in her house where she sells food staples such as flour and sugar. She started this business two months ago. Before that she sold firewood from her doorstep. Thanks to her savings and a loan from her bank she was able to start her new business.
Clementina is married and has six children, three of whom still live with her. She is 55 years old. Clementina travels to the countrysiD. to sell ice cream, fruit, and other food staples. She buys animals and grains from the country, which she sells in the city of Ayacucho. She also sells prepared food from her home.
Demetria is 56 years old. She is married and has seven children. Demetria sells onions from a cart in the Nery Garcia market of Ayacucho. Previously, she grew the onions in a field she owns but had to stop due to poor health.
Gualberta, Clementina and Demetria need loans of 1000, 600, and 300 soles (3 soles = $1), which they will invest in buying rice, oil, corn, wheat, candies, beans, soap, chicken, grains, onion, and guinea pigs, which are considered a delicacy in Peru. The community bank emphasizes the importance of saving and each associate has an interest earning account. Clementina plans to use her savings to pay for medical treatment, while Gualberta and Demetria hope to build a house. Their dreams are to own a home, open a café, that their children will be professionals, that their businesses will continue to grow, and that they will have good health.
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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