Maria Jesus' Group
Maria is 30 years old and lives with her partner and two children. She and her husband raise cattle on their farm in the town of Santiago de Pischa and sell them at the San Juan de Bautista cattle market. In addition, four months ago Maria began selling cosmetics from a catalogue.
Elizabeth is 37 years old., married and has two children. Elizabeth has a beauty salon in the city of Lima and also sells beauty products from a catalogue.
Meanwhile, Asenciona is 50 years old. She is married and has four children. Asenciona travels to the market in Huanta where she buys animals which she later butchers and sells in the town of Quinua.
Maria, Elizabeth, and Asenciona need loans of 1000, 1200, and 400 soles (3 soles = $1), which they will invest in buying cows, beauty creams, cosmetics, pork, guinea pigs (which are eaten in Peru), and chickens.
An important part of the community bank is the interest earning savings account that each associate has. Maria, Elizabeth, and Asenciona plan to use their savings to increase the capital available for their businesses and to pay for their children’s education. Their dreams are to buy a car, study cosmetology, open a spa in their home, and give their children a good education.
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