Virgen De Fatima Group
Vilma and Teresa are two members of the "Virgen D. Fatima" Village Bank. Vilma is married with five children between the ages of 8 and 23. Vilma buys and sells fruit, and has been working at this since she was 15 years old. She plans to use most of her loan of 400 soles to invest in her business, and the rest will go towards her children’s education. Her goals for the future are for her family to get ahead and for her business to continue to grow. She likes being able to save money with FINCA, and plans to use her savings to help her children and to invest in her business.
Teresa is a widow and has five children between the ages of 19 and 34. She sells "chancaca" (brown sugarloaf maD. from sugarcane), and also buys and sells fruit from time to time. With her loan of 200 soles, Teresa plans to start buying small animals like guinea pigs and goats. She would like for her children to join FINCA too, someday, so that they could start saving money, as she has. She plans to use her savings as an emergency fund in case she has any unexpected needs in the future
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