Amigas Solidarias De Miguel Grau Group
Nilda is 42 years old and has three dependent children. She has a store that she built with great effort. When she started her business, she sold candy from the corner of her house using a small cart. She said that she had difficulty starting her business because of the competition and having very little merchandise in stock. Nilda gradually built up the inventory of her business using the loans she obtained through the program. Now she has a store with many more products. Her customers prefer to buy from her store because of the friendly service she offers. Nilda wants her store to continue growing so that she can provide a better standard of living for her children.
The Communal Bank “Amigas Solidarias de Miguel Grau” is grateful for the help.
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