Margoth is the president of the communal bank, she is 23 years old, single and works in a cebichería (place that sells ‘ceviche,’ marinated fish cocktails) she works as a waitress and cook. She works from 7 a.m. to 4 p.m. but she has problems since they don’t pay her wages on time. The loan is to buy groceries like rice, sugar, oil, flour, spaghetti, eggs, detergents, soap, cookies and candies, etc. all of which is sold in fairs.
Margoth’s dream is to have her own cebichería. She is very happy to be president and is committed to making her communal bank a model one, and that her fellow members be punctual in their attendance and payments.
Margoth es Presidenta del Bancomunal, tiene 23 años, es soltera y se dedica a la atención D. una cebichería, trabaja como mesera y cocinera en los horario D. 7am a 4pm, pero tiene una dificultad es que no le pagan puntualmentesu salario mensual, el préstamo que solicita es para la compra D. abarrotes como arroz, azúcar, aceite, harina, fideos, huevo, detergentes, jabón, galletas y demás dulces, etc, los cuales lo venD. en las ferias.
El sueño D. Margoth es poder tener su propia cebichería. Se siente muy feliz D. ser la presidenta y se ha propuesto que su Bancomunal sea modelo y que las socias sean puntuales en cuanto a la asistencia y pago.
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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