La Fortaleza Group
For a long time, Sandra used to rent a food stall. She worked there together with her mom but when her mom died she left the business. The business was very expensive because of the high rent and her profits weren't sufficient. For this reason, she moved her business to her own home. As well as serving customers in her home, her sister, who works in a factory, contacted her about selling meals (lunches) to the workers in her factory. Every day Sandra delivers approximately 20 meals. Her work helps her to pay one of her daughter's school fees. She is now thinking of looking for a better place where the flow of people is greater to open her business or, better still, set up a restaurant in her own home. For this reason, Sandra will use her loan to make progress in building her home and will fulfil her project very soon.
* Sandra is the sixth person along amongst the people standing up
* Sandra C. es la sexta de las paradas
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