Los Angeles Group
Magaly Carmen was selected to be the group’s president. At 31 years of age, she is a single mother of two children, ages 2 and 12. For the past six months, she has been selling salchipapas (a fast food dish consisting of sausages and fried potatoes). She decided to start this business when her clothing sales did not generate enough income to cover her basic expenses. With great effort, Magaly works every day so that she can make improvements to her home and purchase appliances. Her income is enough to pay for utilities, gas, and her children’s education. Magaly dreams of opening a grocery store one day. This recent loan will be used to purchase merchandise (soft drinks and supplies) for her business.
All of the members appreciate the support of their investors and promise to make their payments on time. In the photograph, the members appear with their children.
Magaly Carmen asume el cargo de presidenta, a sus 31 años, es madre soltera, tiene 2 hijos de 2 y 12 años de edad.
Desde hace 6 meses se dedica a la venta de salchipapas, decidió iniciar este negocio por que las ventas de ropa no cubrían sus necesidades, con el esfuerzo de su labor diaria ha mejorado su vivienda y ha comprado artefactos electrodomésticos, sus ingresos cubren el pago de servicios, gas y la educación de sus hijos. Poner una tienda de abarrotes es el gran sueño de Magaly, el reciente préstamo será destinado a la compra de mercadería (gaseosas e insumos) para su negocio, todos nuestros socios agradecen el apoyo brindado de los inversionistas y se comprometen a pagar en los plazos pactados. En la foto (niños hijos de las socias).
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