Madres Laboriosas Group
Edaprospo helps her buy fabric with which she makes slipcovers for furniture in a small workshop. Lately she has started to sell Natura brand products which generate extra income that together with the support she gets from her children’s father (she is separated) plus the money from the little workshop allows her to support the three children she still has in her care.
She hopes to open a gas distribution business but needs more capital to do so; she knows that she will accomplish this if she continues as she is going.
Her group is “Madres Laboriosas” (Laborious Mothers) and they are a very responsible group of 7 members who are friends and give her a hand so that she can reach her goals.
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