During its previous cycle it had 10 members. The group formed thanks to the wish several neighbors had to strengthen their friendship and prosper together. The name for the group was Clelia’s idea because the idea was to grow not only economically but as persons too
Pedro has worked in private transport for 8 years and Clelia has sold prepared meals for 10 years in addition to starting a bookstore that she’s been equipping bit by bit. Her income helps her support herself and pay for her back treatments. She hopes to build and improve her house and stock her bookstore. Both are happy for the help they receive from Edaprospo which provides them with capital for their work and they hope their business will grow as well as their credit capacity from Edaprospo.
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