Mi Banquito Group
Like most people in Matucana region, Ciceli farms. She grows and sells flowers and alfalfa. This is a family business that she has been carrying on as her parents also used to work in this field. Thanks to her hard work and dedication, Ciceli has managed to provide for her children. She also tells us that she is currently building a hotel as she is planning to provide accommodation to tourists who visit the area. Ciceli's wish is to build her house as they have given her a plot of land in her community.
On this occasion, Ciceli requested a loan for her business. She will buy seeds and fertilizers for her crops. The 'Mi Banquito' community bank is a group with ten hard-working members. Ciceli is one of the founding members and she is the group's president. In the photo, she is on the right, wearing a brown jacket, holding a blue 'Prosperidad' jacket.
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