Faustina, Nelva and Juana are three members of the Obelisco Village Bank.
Faustina is 36 years old and is married with four children. She has a store in a rented space, where she sells handicrafts like ceramic dishes and figures, alabaster sculptures (which are traditional of the Ayacucho region) and “retablos” (small, brightly painted scenes of traditional Ayacuchan life maD. from clay). Faustina runs the business with her family, who are all artisans. The family has been in this business for about ten years. They make some of their own crafts, and buy the rest from other local artisans. Faustina is requesting a loan of 300 soles to buy more handbags and key chains. Her goal for the future is to open her own restaurant.
Nelva is 62 years old and married with four children. She owns a general store in Quinua, where she sells basic cooking ingredients like flour, sugar and oil as well as drinks, fruits and vegetables. She has had her business for eight years, and works with her daughter. They open the store from 5am to 10pm each day. Nelva is requesting a loan of 1200 soles to buy more rice, sugar and oil for her store.
Juana is 41 years old and is married with six children. Like Faustina, she sells handicrafts in Quinua. Most of the work she sells is maD. from alabaster and clay. She makes some of it herself, and buys the rest from other local artisans. Juana has had this business for some time now, though she does not remember how many years it has been. She works at her store from 11am to 6pm, seven days a week. She is requesting a loan of 1200 soles to buy more handicrafts and more materials to do her own work. Juana says that FINCA has been a big help in paying for her children’s education. Most of her children are now adults with professional degrees, while others are currently enrolled in a local university.
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