Don Bosco Group
Zenón is a pensioner who worked in the mine for many years. With the money that he received as severance pay he bought a piece of land, which he built on. Later, he also got a car with the intention of renting it. At first this business went well for him. Later, he had to sell it because of an accident with his vehicle.
Repairing it was very expensive. Therefore, this time he bought a “motocarro” (three wheeled motorized vehicle). So far he has not had any problems with it, and he performs maintenance on it every month. The income from renting it is good. It covers his family’s food expenses. It also pays for part of the education of his grandson, a mechanical engineer.
The loan will be used for a small electrical shop that he will set up in his house, where he will help his son. That is where they will fix cell phones, radios, and computers, among other things. He needs the loan to buy accessories and replacement parts for this equipment.
Zenón es un pensionista que trabajó muchos años en la mina, con el dinero que recibió de su liquidación compró un terreno que construyó años más tarde además adquirió un carro con el propósito de alquilarlo, al principio le iba bien en este negocio pero después tuvo que venderlo debido al choque que sufrió su vehículo, la reparación era muy costoso; así que esta vez compró una motocar el cual no ha tenido problemas hasta el momento, mensualmente de da mantenimiento. Los ingresos del alquiler de este bien cubren los gastos de alimentación para su familia y parte de educación a su nieto quien actualmente es ingeniero mecánico. El préstamo será para invertirlo en un pequeño taller electrónico que acondicionará en su casa, donde lo ayudará su hijo. Aquí se arreglarán celulares, radios, computadoras entre otros. Se necesitará para invertir en comprar accesorios y repuestos para estos equipos.
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