Unidos Para Triunfar Group
Fernando has been working with Edaprospo for 3 years. For the past 10 years, he has been working in a small grocery store that he set up with a lot of hard work and effort. He started out in this line of work because his children were entering high school and he wanted to proviD. them with the best. Above all, he wanted to proviD. them with stability. He has managed to improve his income and this has enabled him to build his own home, buy two plots of land, and proviD. his family with a better quality of life. In order to continue growing in his business, he has requested a new loan to buy merchandise and expand his business. We know that Fernando will achieve his goals with a lot of hard work and effort. His loans from Edaprospo 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