San Jose Group
The members have different businesses such as selling vegetables, meats, food, ice cream, firewood, groceries, clothing, fruit, and cereal.
Every member has a different story. For instance, Vilma is a single mother with a six-month-old son. Vilma sells firewood in her house and with her loan she will start a project to sell CDs and disks.
On the other hand, Julia travels every week to the Ayacuchan Jungle where she sells vegetables, traveling on Thursdays and returning on Sundays.
Also, Hayde sells sachipapas (sausage and fries) streetside in the center of Ayacucho with the help of her husband. She has her business on the weekends from six at night to five in the morning.
The bank members need varying amounts of loans, ranging from 300, 600 up to 900 soles, and totaling 9,300 Peruvian Nuevos Soles to be lent to the village bank.
The loans will be invested to buy noodles, firewood, disks, cooking oil, potatoes, beans, oats, corn, vegetables, and clothing.
The dreams of the bank members are to buy their own cars to rent out as taxis, construct their homes, to provide a good education and sustenance for their children, to expand their businesses, and that their children may become professionals.
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