What to know about this Lending Partner
Status Update - April 18, 2013
Kiva and FINCA Perú have ended their partnership after more than five years and $4.7 million in repaid loans. This is due to Kiva increasing its focus on loans that would not be offered without subsidized capital from Kiva lenders. You can learn more about this strategy here. As a well-developed and reputable organization with a range of other international funders, FINCA Perú is able to reach its target population and fulfill its social mission without Kiva's support.
Over the course of the partnership, FINCA Perú always made payments on time and has been a strong and reliable Lending Partner. We thank them for their years of collaboration and hope to work with them again in the future.
Partner Description
FINCA Peru's Mission is to create comprehensive and innovative solutions to facilitate social inclusion as well as women and low income communities' empowerment . By facilitating the integral development of human capacities, FINCA Peru promotes the development of the entrepreneurial spirit within each of its clients. Its mission is to strengthen the social discipline of women through the daily practice of positive values such as equity, solidarity, respect, responsibility and honesty.
FINCA Peru primarily serves women, specifically focusing on mothers who run small businesses and have the will to form mutually-supportive groups such as the village banks. By focusing on women, FINCA Peru operates with the understanding that women who are able to achieve a higher level of income will be able to pass along their earnings directly to all members of their families.
The three fundamental pillars of FINCA Peru's village banks are:
- Training
- Credit
- Savings.
On the basis of these three components, all activity is developed through group meetings of 20 to 30 women that take place weekly or every two weeks. These groups have their meetings in order to receive training and to carry out their loan and savings. Our dedication to the integral development of the capacities of our clients has led to produce a financial service with a training program for business development.
FINCA Peru has also recently launched an export business to promote the beautiful products made by the women they serve. You can learn more about this business here: FINCA Peru Exports