Mujeres Buscando Un Futuro Group
Hortensia's business is selling beauty products. Having time to be independent is what she most appreciates about her job. It allows her time to dedicate herself to other things. Her daughter is about to give birth and what Hortensia most wants is to take care of her grandchild while her daughter works. However, she also wants to be able to continue with her own business because it provides an additional help to the family.
She wins clients by going house to house offering a variety of products, such as perfumes, makeup, powders, creams, etc. With income from her business, Hortensia is able to cover the costs of her customers' orders. This makes it easier for her customers to pay and it also improves her earnings. She will use this loan to stock up with more products, especially perfumes and makeup, since those are what she sells the most of these days.
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