Union Por El Progreso Group
Moisés has been working driving his own mototaxi for the past two years. This job emerged when he lost the job he had in a firm where he used to work. However, his desire to get ahead was greater than his problems and this is how today he has managed to improve his income which has led to his building his house and provide his family with a better quality of life.
With the aim to continue growing he has requested a new loan to cover the cost of his children’s school supplies. We know that Moisés will meet his goals with much work and effort and that Edaprospo loans will help him.
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