Las Emprendedoras Group
Nélida's business is knitting items by hand such as sweaters, ponchos, scarves, etc. She provides a finishing service to several knitted goods factories who, in turn, export these garments. The profits that she makes from this work are very useful to her as she is able to help her husband support their household. What she would most like is for her children to finish their education and become professionals. She also hopes to continue knitting and creating new styles. She will use her loan to buy the materials that she needs such as yarn, threads, etc. She currently belongs to the 'Las Emprendedoras' group which has 10 members.
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