Paso A Paso Group
Fortunata, pictured in the front row in the black jacket, is a 62-year-old widow. She has four adult children who have businesses of their own. Fortunata's business is a taxi service that she runs with her nephew. With this loan, Fortunata plans to buy new tires for her car she uses as a taxi.
The roads in northern Lima, where she lives, can be very hazardous: potholes and dirt roads really take a toll on her taxi cab. With a better maintained taxi, Fortunata hopes to attract more passengers and earn a better living.
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