Adrián, 40, is Treasurer of the “Ebenezer” communal bank. This communal bank has seven members. All are responsible workers in each of their businesses. Adrián has a musical group called “Instrumentos Musicales de Viento” and he performs every weekend. He’s been in this business for 15 years now. Through much effort he’s managed to provide the best for his two children who are currently in university. Together with his spouse he also has a business selling flutes and panpipes. Thanks to his effort and dedication he’s been able to buy a lot and start to build his house. He intends to use this last loan to buy building supplies and to enlarge his business.
El señor Adrian tiene 40 años de edad, el es el tesorero de la alcancía comunal Ebenezer, esta alcancía tiene 7integrantes, todos son trabajadores responsables en cada uno de sus negocios. Adrian tiene su propio grupo musical que se llama Instrumentos Musicales de Viento, el da presentaciones todos los fines de semana, con este trabajo ya tiene 15 años, y ha logrado con mucho esfuerzo darles lo mejor a sus dos hijos que ya se encuentran en la universidad, juntos con su conviviente tiene también el negocio de ventas de quenas y zampoñas, gracias a su esfuerzo y dedicación a podido comprar su lote y construir su casa, con este ultimo préstamo piensa en comprar materiales y agrandar 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.