Emprendedores De Vitarte Group
One case in particular is that of Pilar Q., 42 years of age, married and mother of six children of whom three are minors. She works in the production and sale of natural yogurt by traditional methods. In the mornings she also works selling prepared food. She invests the income generated by the sale of prepared food and yogurt especially in the education of her children and in savings for the home.
In the future she would like to set up machinery for making yogurt. She will invest the current loan in supplies for making yogurt. Like Pilar Q., each member of the bank "Emprendedores de Vitarte" has a business initiative which he/she is motivated to carry out.
I cannot finish without mentioning the effort and dedication they all demonstrate on a daily basis for the wellbeing of their families and their own 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