Santa María Group
One of the group's members who demonstrates these characteristics is Jacinta B. who is 47 years old and the single mother of two children, one of whom is still school age. She gets up very early each morning to open her small grocery store which is the source of income for her household. It has provided her with a lot of satisfaction over the 8 years for which she has owned it. Jacinta B. started this business when her husband left her with two young children in her care. She needed a way to earn a living in order to support her family. With her recent loan, she will buy merchandise for the Christmas season. Like Jacinta, every member of the group has their own story with good and bad moments throughout their lives but they all have a desire to overcome obstacles and they demonstrate this every day for the well-being of their families and their businesses.
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