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| Name | Alternativa |
| Where | In the poor suburbs of Lima, in Peru: branches in Puente Piedra and San Martin de Porres |
| Type | Institution with no lucrative goal (NGO) |
| Person we met | Ana E. Mejía Atoche |
| Website | www.alter.org.pe |
| Amount of loans | all the loans are within solidarity groups for an individual amount from 300 soles (75 EUR) to 6.000 soles (1.400 EUR) for a duration of 6 to 18 months. The average is 360 soles (90 EUR) for Puente Piedra branch, and 1600 soles (380 EUR) for San Martin de Porres branch |
| Number of micro-entrepreneurs | 4.000 |
| Interest rates | 3% monthly (42,5% as annual equivalent) for microloans in soles, 2,5% monthly (34,5% as annual equivalent) for microloans in USD |
| Recovery rates | 100% |
| Percentage of women customers | 85% |
| Comments |
Alternativa is an association found in 1979 which defines itself as a social investigation and popular education center. The microfinance department was found in 1998. Microloan is considered as a mean for personal development. Alternativa assumes the promotion and the creation of “communal banks”, which consists in groups of people who meet together to receive Alternativa services. A group must count a minimum of 15 people in theory, but counts as low as 10 people in reality to 38 members. The average is 20 people. For the promotion, a loan officer goes in the communities when there are events such as parties or religious meetings. Loan applications are analyzed by a credit committee, after the loan officer has visited the future member in his/her house and at his/her microbusiness in order to evaluate his/her ability to pay back the microloan. These microloans are both for already running microbusinesses and for new projects of microbusinesses. They can be in Peruvian soles or USD, although the majority is in soles. The length lasts up to 6 months for microloans for financing a working capital, and up to 18 months for financing fix assets. The only guarantee is the mutual guarantee of the group. After having paying back for one year a microloan for a microbusiness, the members can apply for a loan for improving their living conditions. Alternativa does not only follow the economical parameters of the microloans it allows, but also follows sociological parameters with its own indicators. The reimbursement of the microloans is monthly during an obligatory group meeting. Every member has to show up a check or the receipt of the bank in which he/she has paid the monthly payment. Absolutely no cash payment is done during this meeting. If a member is late or does not come to this meeting, a fine has to be paid by this member and this fine finance a reserve fund. Saving is encouraged. It can be voluntary, or planned and is each month the equivalent of 5% of the loan amount. Every monthly meeting is followed by a trainee about one of these topics: identity and self-esteem, health and violence, business management, etc... Transparency is fundamental in order to establish trust between people and a good general running. To participate in local democracy is encouraged. No impact of the economical crisis has been noticed so far. Any form of microentreprise is represented. |
| In the future | Alternativa wants to open new branches in all Lima area and become really independent |
MFI met in Lima on the 10th of June 2009