Sol Radiante De Huaycan Group
The community organization, "Sol Radiante de Huaycán” is made up of 11 enterprising partners, who live in Huaycán, in the Ate district (department of Lima). They work with EDAPROSPO, thriving for 1.5 years to date.
51 year old Faustina Eugenia is in charge of the treasury. She is a single mother with 3 children, whose livelihood is that of clothing sales, which she has been doing on the street for 3 years now. By putting forth this effort on a daily basis, Faustina is able to cover the costs of services, food & education for her children. The loan she recently received will be used for the purchase of merchandise, so that she can meet her customers' demand during this holiday season.
Faustina Eugenia asume el cargo de tesorera tiene 51 años, es madre soltera y con 3 hijos, se dedica a la venta de ropas en forma ambulatoria desde hace 3 años, con el esfuerzo de su labor diaria Faustina cubre los gastos de servicios, alimentación y educación de sus hijos, el reciente préstamo obtenido lo utilizará en la compra de mercadería, para así poder satisfacer la demanda de clientes en esta campaña navideña.
About EDAPROSPOEDAPROSPO seeks to use micro-credit to foster productive commercial activity for the sake of economic and social development within vulnerable urban and rural sectors traditionally neglected by commercial banks. By offering innovative products such as technical education loans and microfinance groups for young people, EDAPROSPO helps disadvantaged Peruvians lift themselves out of poverty.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid