In this hot, arid climate resides Renzo, a father of a 2-year-old child. Renzo works full time as a motorbike taxi driver ("mototaxi"), offering his passengers efficiency and security. He transports approximately 15 people per day. In order to maintain his provision of excellent service and safety, he needs to pay for a few fixes to his mototaxi. Renzo will use this loan to change the doors and tires, as well as pay for general maintenance of the vehicle. He hopes that these fixes will help increase his income, which then will allow him to finish building his house -- a dream he hopes to realize within the next year.
More information about this loan
This loan is designed for people who have no access to financial services because they lack collateral or credit history, or run informal businesses. Caja Señor de Luren identifies these clients through a unique scoring system that evaluates their repayment capacity based on socio-economic and demographic indicators. The goal is to expand access to credit to vulnerable borrowers, empowering them to improve their income and living conditions.
About Caja Rural Señor de LurenCaja Rural Señor de Luren is a microfinance institution based in Ica in southern Peru that primarily promotes the development of the country’s agricultural sector through lending. Today, it also offers credit for consumers, microenterprises and housing improvements, and has expanded its financial services to promote micro-savings and provide micro-insurance. This institution has been instrumental in helping borrowers recover from the devastating earthquake in the Ica region in 2007, and works with Peru’s National Bank to reach some of the poorest and most remote microfinance clients in the country.
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Success!! The loan was 100% repaid