In June 2025, I had the opportunity to spend a few days in Piura, Peru for an in-person due diligence visit with Santa Isabel Savings and Credit Cooperative. This partnership marks our entry into the northern region of Peru, a region that has historically faced higher levels of poverty than the national average.
I landed in Lima, Peru, early morning and quickly connected to a one-hour flight bound for Piura. The Piura airport was modest, consisting of a single runway, giving me the first glimpse of the region’s simplicity. From my hotel window, I overlooked the Plaza Mayor de Piura, where the Basilica stood as the centerpiece. The plaza felt serene with locals sitting on benches quietly watching the world go by. Santa Isabel was located down the street, surrounded by small shops and other financial institutions.
Santa Isabel is comprised of approximately $28 million in assets, which makes it one of the largest institutions in Envest’s portfolio. While Envest typically partners with smaller MFIs that are often overlooked by international creditors, Santa Isabel faces similar challenges in accessing foreign loans despite its size because it operates as a cooperative. In Peru, cooperatives are only now gaining broader trust as stronger regulations are being implemented. Envest is just the third international creditor to support Santa Isabel, and it is clear to me that our role would be pivotal in helping expand its positive impact.
Santa Isabel stood out to me for its strong community impact. About 95% of Santa Isabel’s borrowers are women with an average loan size of only $230. I was impressed with its commitment to empowering women, promoting healthcare, and offering workshops that help members build income-generating skills.
Santa Isabel was founded in 2016 with the mission to transform lives, create opportunities for inclusion, and foster entrepreneurship. During my visit, it became evident that the leadership was all about the success of its members and emphasized the importance of responsible lending. The general manager, Jorge Molina, shared “Our aim is not to top-off credit amounts but rather attract new customers because giving more money to people without the capacity to repay only leads to over indebtedness.” This philosophy reinforces their genuine commitment to member well-being.
One of the most impactful moments of my visit came during a field visit to a rural community where I joined a loan disbursement meeting for a women’s group, Mujeres Emprendedoras Impulsa. Sitting in a modest brick structure with a tin roof, the importance of access to credit was evident. Among the women was Yesenia, who attended the meeting with her young daughter. Yesenia shared how she had recently received her very first mammogram and pap smear thanks to a Santa Isabel partnership with local clinics. She shared “I want to keep up with my health for my children because I provide for them.” Yesenia uses her loan from Santa Isabel to run a small business selling beverages from her home.
Yesenia’s story was a powerful reminder that financial inclusion is not only about access to credit but also about creating opportunities for dignity, health, and progress.
With a partnership with Santa Isabel Envest is proud to expand its reach in Peru while supporting an institution that goes beyond credit to truly invest in the lives and well-being of its members.