A loan of $700 helped purchase satin, corduroy, thread, sequins, etc.

Magda Luz's story

Ms. Magda R. is a member of the Las Divinas microfinance institute, located on Nº 234 Miraflores Street, in the Callería district of the Coronel Portillo province, department of Ucayali. She is a 46-year-old married mother of 5 grown up children. Her husband is self-employed. She decided to invest her first Manuela Ramos loan of 300.00 PEN in soft drink sales. She has been working with the microfinance institute for 4 years.

She currently makes dance costumes that she rents for different events. This business generates good profits for her, so she can pay off her loan punctually.

With this 2,100.00 PEN loan, which will be repaid in 6 months, she will purchase 15 meters of satin or corduroy, thread in 8 different colors, sequins, etc.
Magda says that she receives help from the microfinance institute because her business and her family’s financial stability have improved.

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Translated from Spanish by Kiva volunteer Elizabeth Casian

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