Mi Amigo Jesus Group
At the age of 60 and with 8 children, two of whom still dependent, Arsenia makes tamales to sell; she also sells beverages at home like soft drinks and sodas.
She will use the received loan to buy ingredients like corn, oil and assorted beverages; she will also contribute to the tuition costs of one of her children and, if possible, help the other child with the paperwork to get his driver’s license so that he can learn to work as a driver.
Arsenia dreams with having a house of her own and to have a spacious soda fountain. She’d also like to have gardens with flowers where she and her husband, who’s a locksmith, can continue working.
We can see the members gathered together at the payout meeting that took place in their community. They are grateful for the opportunity and for the working capital received to continue working. Due to distance, two of the members did not arrive on time: Eli Humberto and Milena Iris so they do not appear in the photo.
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