BCR “Anta”, is located at approximately 3,400 meters above sea level, in the community with the same name in the province of Acobamba. The main activities of the population are the growth of corn (lower altitudes), potatoes and wheat (higher altitudes), and people also have cows, bulls and sheep. In the small town the people have shops and proviD. several services. Currently the bank has completed its first loan cycle. The bank is just six months old with 10 female borrowers currently and a total loan of 4,400 soles (about $1,575 US). The loans range from 200 to 800 soles. The group was able to save over 2,100 soles (about $750 US) in the first loan cycle and will continue to save in the future.
Most members, during their first cycle, learned to do business. Previously most production was for auto-consumption, but more and more they have learned to do business and earn a little money with the work they do. Other very important things they learned are to save and to be responsible. With their savings they hope for their children to study and to be professionals.
One of the members of the community bank is María Dorotea C. B.. María buys sheep and sells them at local markets. With her 200 soles loan, she will buy more sheep and sell them. Sometimes she kills one of the sheep to sell the meat. Like most people in the area, she grows peas, barley, beans and corn her in a small field, but mostly for consumption by her family. In the first cycle she managed to save some money which she can use to buy school supplies now that school is starting again. She has learned in FINCA Perú to save and has received good advice about how to live in harmony with her family. Her dream for the future is to have all her children studying in five years, to have a bigger business, and to gain more experience.
Euforsinia P. S. is another member of the bank who has a business buying fruits in boxes that trucks bring all the way from Huancayo, one of the mayor cities in the central Andes. Euforsinia sells the fruit at local markets. Another business she runs is buying and selling pigs, guinea-pigs and sheep. Like all women in the community bank, she also has her fields with corn, peas and beans, most of the production being for auto-consumption. With her 300 soles loan, she will buy fruits. With her savings she is able to increase business by buying and selling more animals. In FINCA Peru she has learned to save, to be more responsible and to practice her values.
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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