Olga is divorced, she has 2 children, and she is 44 years old. She is a member of the communal bank named "Christ is the Way", a group made up of 10 members who all have various business types. Olga has had her vegetable stand business for the past 10 years in the market. This business was established following her divorce when she had to work to support her children. Olga did not want to financially depend on her ex-husband and so she worked very hard. Despite everything, her wish to improve herself was greater than her problems. And thanks to her efforts and dedication she has managed to secure a better income, she has built a house, purchased a plot of land, and her children went to school. Olga tells us that as a woman and a mother she feels proud for her achievements. She says that she is happy and that she has a good quality of life. The loan that was granted to her was to purchase merchandise. We know that Olga will achieve her goals through a great deal of work and effort and that the loan through Edaprospo (Kiva Field Partner) will help her.
La Sra. Olga es divorciada, tiene 2 hijos y tiene 44 años de edad, actualmente es integrante en la alcancía comunal “Cristo es el Camino” grupo conformado por 10 socios que se dedican a diversas actividades de comercio. Olga trabaja desde hace 10 años en la venta de verduras en un puesto en el mercado, este trabajo surge a raíz de su divorcio tuvo que trabajar para poder mantener a sus hijos ya que olga no quería depender economicamente de su ex esposo y es así que trabajo muy duro y apesar de todo su deseo de superación eran más grandes que sus problemas, gracias a su esfuerzo y dedicación a logrado mejores ingresos económicos, ha construido su casa, se compro un terreno, sus hijos cuentan con educaciòn.Olga nos cuenta que como mujer y madre se siente orgullosa por sus logros,nos cuenta que es feliz y tiene una buena calidad de vida. El préstamo que se le otorgo fue para comprar mercadería. Sabemos que Olga cumplirá sus metas con mucho trabajo y esfuerzo y que los préstamos de Edaprospo le ayudaran.
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.