Mirtha is a member of the communal bank named Santa Ana, a communal bank formed 10 years ago. The members are individuals who struggle every day to improve the economy of their homes. A representative is Mirtha. She is 37 years old, married common-law, and she is the mother of 4 children, 3 of whom are minors. She sells every day vegetables at a small market near her home. Her business gives her time to work and to educate her children. The root of the reason why she started her business is that the household income was too low and they needed a greater income to be able to cover expenses such as the education of the children and home improvements. With her efforts and hard work she has been able to build a house and to provide her children with an education. In the future she would like to expand her vegetables sales business to be able to pay for her eldest son's university expenses. The recent loan will be used to purchase vegetables to sell in her business.
La señora Mirtha , es una de las integrantes del grupo comunal Santa Ana, una alcancía formada hace ya 10 años, que tiene como integrantes personas que luchan cada día para mejorar la economía en sus hogares. Una muestra de ello es la señora Mirtha de 37 años conviviente y madre de cuatro hijos de los cuales 3 a un son menores de edad, ella se dedica diariamente a la venta de verduras en un pequeño mercado cerca a su casa, el cual le da tiempo para poder trabajar y educar a sus hijos. Ella comenzó en este negocio a raíz que la economía en su hogar era demasiada baja y necesitaba de mayores ingresos para poder sustentar gastos como la educación de sus hijos y mejorías para su hogar, con el esfuerzo de su trabajo a podido construir su casa y darles educación a sus hijos, en el futuro le gustaría ampliar mas su puesto de venta de verduras y poder pagar los gastos de universidad de su hijo mayor. Con el reciente préstamo lo invertirá en la compra de verduras para la venta de su negocio.
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.