Señor Nazareno Group
Hedibia is a hardworking woman. With a desire to progress and contribute to the household expenses, she began her own business selling fruits, soft drinks, and snacks on an itinerant basis. Most of her customers are people that travel to the center of the country.
Thanks to her hard work, Hedibia has succeeded in improving her house. Her dream is to install a shop in her house where she can sell her products and not have to work itinerantly. She will invest the loan she receives from EDAPROSPO in her business, purchasing fruits (apples, peaches, grapes), soft drinks, and snacks (peanuts and beans), and in this way have what she needs for her customers.
The “Señor Nazareno” Communal Bank is very grateful and promises to continue working with Programa Prosperidad (Prosperity Program). Margarita wasn’t able to be present for the photo because of her work.
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