Señora Esperanza is 61 and lives in Area "A" of Huaycán. She is separated and has three grown-up children. She is a member of "Amigas Unidas Group" (United Friends), which has been working for 2 years with the microfinance institution Edaprospo. The group has 9 members; they are neighbors and friends. Esperanza has worked for 20 years as a seamstress and was able to support her children when they were very young. Recently she managed to build the roof of her house and this makes her happy. However, she has now suffered from diabetes for 4 years, but it doesn't deter her and she knows that she can achieve her goals thanks to her effort and the support of Edaprospo.
La Señora Esperanza tiene 61 años y vive en la zona “A” de Huaycan, está separada y tiene 3 hijos ya mayores de edad, ella forma parte del grupo “Amigas Unidas”, grupo que lleva 2 años trabajando con Edaprospo y conformado por 9 socias vecinas y amigas. Esperanza ah trabajado por 20 años de costurera y ah podido apoyar a sus hijos cuando eran muy jóvenes, últimamente han logrado construir el techo de su casa y ella se siente contenta con esto, pero desde hace 4 años sufre de diabetes, mas no por esto se rinde y sabe que lograra alcanzar sus metas con su esfuerzo y la ayuda de Edaprospo.
EDAPROSPO 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.