Camino Al Exito Group
Carmen Rosa is married and has three children, one daughter is independent and the other two are still dependent on her and her husband. She has a business making items out of craft foam. Carmen started this business six years ago and has implemented new techniques over time as a result of courses she has taken and magazines she has read. Due to their efforts, Carmen and her husband have been able to pay their household expenses. In the future, she hopes to open either a small store or a craft workshop.
With this latest loan, Carmen plans to buy materials and equipment.
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