Asociaciones Unidas Group
Each member has a story to tell but we will only mention one. Lola R., 57, is the mother of three children. She has been selling food every day for the past 10 years. This has helped her, and her family financially, and has been a big support for them for a long time. With the effort in the sale of the food she has been been able to build her home of good materials over a period of time, and she has given her children a decent education. With the recent loan she plans to buy supplies for her business and stock up for the next months. As with Mrs. Lola R. each member of the Asociación Unidas group has the wish and goal to get ahead for the good of their 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