Yahve Yire Group
Ana María, 38, is the President. She’s married and has three children. She’s been a Cosmetologist for 18 years. She tells us that she started out with just a little table and mirror and the basic tools to cut hair in a rented space. However, as a result of her hard work she was able to buy her own locale five years ago.
Currently she’s well established professionally and she’s been able to expand her business. At the same time, however, she’s sad because she has a 10 year old son who is still in treatment because of kidney disease at such a young age.
Ana María hopes to buy an electric hair clipper and the loan will be used to acquire products like hair dyes. Her dream is to have her own beauty spa.
Her daughter is studying Dermatologic Cosmetics and when she finishes will help Ana María in her beauty salon so that gradually she can reach her goal of opening a spa.
The members of the new communal bank “Yahve Yire,” which means The Lord Will Provide, are committed to making their businesses grow.
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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