The Bahoudii Crown Trust Issued Its latest Microloan on 5 July 2011, to Argedis Ojeda Palacios from a small rural community in the district of Tambogrande-Piura, Peru.

Argedis is a hardworking 29 year old man who lives with his wife and son in a small Peruvian community raising sheep and crops. His agricultural land has lemon and mango trees that Argedis tends daily and harvests weekly.

Argedis has established customers for both of his businessess and selling animals and fruits enables Argedis to provide some home comforts for his family, but he desires to give his family a better standard of living.

The loan provided to Argedis will allow him to buy good food for his animals and fertilizer so that his trees will produce better quality fruit and allow him to generate more income for his family.

This MicroLoan was made under our agreement with www.kiva.org and has been disbursed through EDPYME Alternativa.

EDPYME Alternativa became a Kiva.org field partner in September 2009.

EA was interested in using the interest free capital to expand services to underserved populations, specifically borrowers living in rural areas where access to capital is extremely limited. To facilitate this, EA created a new product, Capital Semilla, small loans exclusively funded through Kiva.org that offer a preferential interest rate to borrowers.

EA’s mission is to develop and provide competitive financial services to small and micro entrepreneurs. In completion of the mission, EA believes it is necessary to be a sustainable institution and a leader in the microfinance sector of Peru.

The institution’s core values are honesty, loyalty, respect, cooperation and service. Through the efforts of its dedicated staff across more than twelve branches, EA serves marginalized rural and urban populations in northern Peru, with an expanding presence in northeastern Peru as well as the capital city of Lima.

EA operates based on highly organized and efficient protocols – from borrower identification to risk analysis. They offer a number of financing products including short-term business loans (less than 3 months), medium-term business loans (less than 36 months), agricultural loans, auto loans, and home improvement loans and mortgages.

EA works hard to ensure its clients are well informed of the products, policies and options that are presented to them.

One especially useful tool for potential borrowers is the Loan Simulator, which is published on the website and used by each loan officer in reviewing the costs of the credit.

In addition to offering financial products, EA also provides the following products and services to its clients:

• Low-cost insurance against the principal of the loan in case of death or disability provided by INVITA insurance
• Micro insurance product, Viviendo Seguro, which provides limited protection against injury and disability
• Surety bonds for contractors and other entrepreneurs
• Money transfers through Western Union
• Vehicular liability insurance
• Forwarding of free business, technology and agricultural workshops provided by the Chamber of Commerce of Lambayeque.
• Donation collection after natural disasters or extreme weather.

To maintain their presence in the community, EA also holds an annual “Chocolatada” near Christmas time. For the Chocolatada, EA selects a disadvantaged population in the area and holds a large reunion in their neighborhood. EA brings the majority of its staff into the community and gives out presents, food and other assistance to the residents. The event turns into a lively and lovely party, in which the staff of EA and community members share stories and food, getting to know each other better.

More information about EDPYME Alternativa is available at the website here: http://www.alternativa.com.pe/