Mujeres Empresarias Group
She also tells us that she knits sweaters, purses, scarves and other things, which she makes upon request. Susana has a goal of establishing a store in her home that offers basic necessities, since she knows that she will generate a better income that way. With the goal of improving her finances, Susana's latest loan request is for buying ingredients to prepare mazamorra such as corn, rice, milk, sugar, etc.
The communal bank "Mujeres Empresarias" is a group composed of 7 members partnered with the program Prosperidad. Magna was unable to be present for this loan due to work-related reasons.
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