Aydee Ambrosia's Group
Aydee is 33 years old and has a seven year old daughter. She owns a bakery that was started by her mother. She has been running the business since her mother retired four years ago. In addition, Aydee is studying to be a lawyer.
Domenica is 33 and has a five year old son. She knits items such as hats and gloves that she sends to Lima to be exported. She knits all of her products by hand. Domenica has been knitting for five years, before that she sold firewood. She is much happier now.
Santa is 32 and has two children. She moved to Ayacucho nine years ago from the jungle region of Peru and started a business selling food staples such as rice, sugar, and oil. Since that time, and especially since joining the community bank, her business has grown considerably.
Aydee, Domenica, and Santa need loans of 1200, 600, and 400 soles respectively (3 soles = $1, which they will invest in buying materials to expand their business. These include flour, yarn, wool, sugar, and butter. The loan helps them buy in larger quantities and receive lower prices.
The community bank emphasizes the importance of saving, and each associate has an interest earning savings account. Aydee is saving to take her graduation exam. Domenica and Santa are saving to buy land and build a house.
Their respective dreams are to become a lawyer and professional, own a home, and to be able to run their business from their home.
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