Juntos Unidos Iremos Al Camino Del Exito Group
Among them is the group President, Carmen, 37. She’s married and the mother of two children. Carmen sells beauty products daily and also sells lingerie. Thanks to the sales of both products she’s been able to proviD. steady income for her home.
She plans to use this loan to buy more beauty products, like skin cream, and lingerie to sell. In the future she’d like to open a beauty product store and expand her sales to various parts of the city.
Just like Carmen, each group member has a particular goal which is success and economic improvement of their businesses and economic stability for their families.
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