Loan Illustration

Mi nombre es Bernarda, vivo en la localidad de Achanizo junto a mi pareja. Me dedico a la venta de abarrotes en mi tienda que con mucho esfuerzo logre abrir jun…

Trade Selling groceries

Peru Peru

Loan amount €1,320

Funded 60%

by 16 members

Project open to funding

Only 7 days
to finance: €520

Bernarda - Purchase a selling point

Borrower

First name: Bernarda
Gender: Female
Age: 54
Marital status: Co-habiting
Number of children: 0
Region: Arequipa
Main activity: Sales / Food Sales / Selling groceries

Loan Request

Purpose: Purchase a selling point
Amount: €1,320
Duration: 20 months
Loan type: in fine
The loan is reimbursed in one installment at the maturity date of the project (principal and possible interests).
Note: additional time may be necessary for the funds to be credited on the lenders' accounts due to delays in international transfers.

Borrower's quote

Mi nombre es Bernarda, vivo en la localidad de Achanizo junto a mi pareja. Me dedico a la venta de abarrotes en mi tienda que con mucho esfuerzo logre abrir junto a mi pareja. Solicito el micro crédito para poder comprar un punto de venta para aperturar mi restaurante aumentando mi cantidad de clientes. En el futuro espero poder mejorar mi calidad de vida y seguir contando con buena salud.

Economic and social context

Peru

Peru

With Peru's fast growing economy, the land of the Inca's is helping the global fight against poverty and inequality to gain momentum.
Country's key figures - source Worldbank
Population 29 164 883
GNI per capita 4 150 USD
Economic Growth 9,80%
Poverty rate (less than 2 USD/ day) 17,8% (in 2007)
Unemployment rate 7%
Literacy rate (above 15 years of age) 90%
Life expectancy 73 years

MFI Status

This loan is managed locally by our field partner Fondesurco which is in charge of administrating the loan and repaying MicroWorld lenders.

You should be aware that lending involves a risk of non-repayment. However, the risk associated with this MFI is considered lower than average.

Rates and transparency

  • This loan is at 0% and does not pay any interest to the lender.
  • The MFI will reimburse the lender in case of default of the entrepreneur but there is no guarantee or insurance given by the MFI.
  • 100% of the money collected is sent to the MFI, even if the project is not fully funded on the site.
  • The MFI then makes a loan to the micro-entrepreneur and charges an interest rate in order to cover its operational and financial costs.
  • The platform earns a commission from the MFI for the service it provides, which helps to fund its running costs.
  • More effective than a simple donation, micro-credit promotes long-term sustainable economic development rather than short term help.
  • Read the model of loan agreement

The MFI

Fondesurco

Fondesurco

History

Fondesurco, an NGO, was established fifteen years ago following a pilot microcredit program initiated by a set of four NGOs operating in the southern region of the country. The project began with group loans that followed the Grameen Bank methodology.

The MFI has developed the majority of its business in the province of Arequipa, supporting agricultural activities in the Andean highlands, and is trying to deepen its presence in this region by offering services to the most remote villages.

Key figures - December 2010
Date31/12/2014
Legal StatusNGO
Number of Borrowers11,040
Portfolio Size$20,335,597
PAR (Portfolio at Risk)0.47%
R.O.A (Return on Assets)0.11%
Social indicators
Average loan /GNI per capita34%
% of female borrowers59%
Saving accounts openedNo (legal status)
Collaterals requiredNot mandatory
Loans for social purposesEducation