Rosa Victoria's Group
Rosa Victoria is married and has four children, three of whom are professionals. She is currently the president of her bank. Marcelina lives with her partner and has two children, one of whom is still in high school. She is the treasurer of her bank.
Rosa has owned a business preparing and selling the typical food from Cuzco, another part of Peru, for the past two months. For three years Marcelina has owned a business making and selling a traditional bread called, “chapla”.
Their loans are for 1200 and 200 soles respectively (3 soles = $1), which will be invested in improving their businesses by adding decorations, and buying basic groceries such as rice, oil, potatoes, meat, flower, and sugar.
Rosa and Marcelina say that in their community bank they feel happy and capable. It is like a big family where they can share companionship and values such as punctuality.
Their dreams are to continue improving their businesses and one day own a home.
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