El Esfuerzo Es Grande Group
Lila has been selling lunches and frozen fruit treats for three years. Thanks to her effort and dedication, she has been able to provide her children with an education, build her house, and give her family a better quality of life. In order to continue growing, Lila is requesting a loan to buy a food cart for selling sandwiches and “salchipapas” (sausages and fried potatoes). She is confident of accomplishing her goals through much work and effort, and with the help of the loans from EDAPROSPO.
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