El Sol De Vitarte Group
Such is the case for Sara O., 46 years old, and mother of 5 children, 3 of whom are still under her care because they are young and depend on her for their education, food, and clothing. Every day, Sara O. sells broasted-style chicken in the evenings and sometimes coffee beans and honey. With revenue from these businesses she could support her family and was able to buy some land to later start building her own house.
With the requested loan, Sara will improve the merchandise for her broasted-style chicken sales. Every member of the group has a particular story, but they all share the enthusiasm and desire to succeed for the benefit and economic improvement of their businesses and families.
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