Somos Impacto 2006 Group
Margarita has a life partner and five children who range in age from 14 to 25. She has enjoyed knitting since high school and started her own handbag business a few years ago. She makes brightly colored woven bags that her customers typically use as purses.
Up until this point, Margarita has taken orders for purses and sold them out of her home. With this loan, Margarita is hoping to hire someone to help her knit and increase her inventory so that she might sell her purses in a local market. She is very excited to expand the business that helps to support her family.
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