Los Olivos Group
Some sell from door to door or on foot, while others sell in the city’s markets. The group members are requesting different loan amounts: 300 soles (US$ 100), 450 soles (US$ 150), 600 (US$ 200) or 900 (US$ 300) soles. Los Olivos is requesting a total of 6,450 soles in loans.
The loans will be invested to buy sugar, rice, milk, pasta, various fruits, wool, and dyes. Some of the group members’ dreams are to own their own homes, to improve their homes, to expand their businesses, and to proviD. their children with a good education.
Translated from Spanish by Cynthia McMurry, Kiva fellow
El Banco Comunal Los Olivos inicia su segundo ciclo con 13 socias. Todas las socias son del barrio D. Los Olivos, nombre que lleva el Banco Comunal, las reuniones se realizan en el domicilio D. alguna socia.
Las socias realizan diferentes negocios, como L. venta D. abarrotes en general, quesos, cosméticos por catálogos, brindan servicios D. cosmetología, elaboran textiles y preparación D. jugos y comidas. Sus ventas los realizan D. manera ambulatoria, D. casa en casa y en los mercados D. L. ciudad.
Las socias necesitan diferentes montos D. préstamos, algunos montos son D. 300 soles, 450 soles, 600 soles y 900 soles, haciendo un total D. 6,450 soles D. préstamos en el Banco Comunal.
Los préstamos lo invertirán en L. compra D. azúcar, arroz, fideo, leche, quesos, frutas variadas, lanas, tintes.
Los sueños D. las socias es tener casa propia, mejorar su casa, ampliar su negocio y brindar una buena educación a sus hijos.
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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