Villa Hermosa Group
The members have different businesses such as selling cereals, articles of clothing, small livestock, food, candies and groceries in general.
Every member has a different story. For instance, Aydee is a single woman studying nursing in an institute. Also, in order to make money she travels on Saturdays and Sundays to regional fairs where she buys cereals and resells them to merchants in the Nery Garcia Market.
On the other hand, Aurea has a grocery store in her home, where she sells vegetables, meats, fruits, etc. and at night she sells salchipollos (local sausage snack) in front of her house. She uses her income to cover the education and food costs for her children.
Norma travels to regional fairs three times a week where she buys cereals, small livestock, etc. that she sells in the markets in the city of Ayacucho.
The members need varying amounts of loans, amounts of 300 or 600 soles, totaling 6,000 Peruvian Nuevos Soles to be lent to the village bank.
The loans will be invested in buying sugar, rice, vegetables, fruit, cookies, caramels, oats, barley, potatoes, and small livestock.
The dreams of the bank members are to have their own homes, to move forward with providing their children a good education, and to improve and stabilize their businesses and lives.
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