A group that is creative in business and hard work to get ahead- that is how the Sol Naciente [Emerging Sun] community bank is described. It has had 8 members for more than 6 years. This group has a lot in common, such as wanting to get ahead. Each member has her own particular story. Such is the case with Vilma M., who is 45 years old and has three children. She works every day selling beauty products, work she has been doing for more than two years. With her hard work she has managed to improve her quality of life, since she now has more income. She is now about to achieve one of her biggest goals, which is finishing construction on her home, to ensure that her children have a place to live and grow as excellent citizens.Vilma M. is not just a prosperous worker, but an excellent cook as well. That is why she eventualy began to prepare delicious dishes on weekends to make some extra income. With the recent loan, she will invest in buying beauty products such as perfume and skin creams. In the future, she would like to grow her business to have more income for her and her family.
Un grupo con creatividad para los negocios y empeño por salir adelante, así se caracteriza la alcancía comunal Sol Naciente integrada por 8 miembros hace más de 6 años. Un grupo con mucho en común como el deseo de superación y con una historia en particular de cada integrante, tal es así el caso de la señora Vilma M. de 45 años de edad casada y con tres hijos. Ella se dedica diariamente a la venta de productos de Belleza, trabajo que viene desempeñando desde hace mas de dos años, con el esfuerzo de su trabajo ha logrado mejorar su calidad de vida, ya que ahora tiene mayores ingresos económicos, el cual gracias a eso está a punto de lograr una de sus grandes metas que es concluir la construcción de su vivienda para asegurarle a sus hijos un lugar donde puedan vivir y desarrollarse como excelentes ciudadanos. Vilma M. no solo es una próspera trabajadora, sino que también es una excelente cocinera, es por eso que eventualmente se dedica a preparar deliciosos platillos los fines de semana, para a si lograr algunos ingresos extras. Con el reciente préstamo lo invertirá para compras de productos de belleza tales como perfumes y cremas para la piel. En el futuro le gustaría ampliar su negocio para a si obtener mayores ingresos para ella y su familia.
EDAPROSPO 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.