Las Flores Al Progeso Group
She has always worked in the food business. For a long time she prepared lunch for employees at several factories. Unfortunately, the trip from home to work was very long and tiring so, in order to spend more time with her small children, she left that job to start working in her own grocery store that she installed in her house.
With some savings and EDAPROSPO loans she started the business. She remembers that at the beginning she only sold a few products and some things that she herself prepared like picarones (type of fried donut) and mazamorra (maize based Peruvian sweet).
She is happy to be part of the “LAS FLORES AL PROGRESO” (Flowers to Progress) group because it’s been a push for her to reach her goals. Currently the business has grown and improved; it is stocked with a greater variety of items. This fills her with pride because she considers this quite the accomplishment in addition to it serving as a means for her to educate her children and live better. Also, she was able to invest money in the purchase of a lot and is now planning to build a minimarket on it.
She will use the loan to buy assorted Christmas products that are sold during this season like, Panettones, champagne, chocolates, etc.
*Aquilina is wearing the yellow shirt and sky blue pants.
*La Sra. Aquilina esta con polo amarillo y pantalón celeste.
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