Santa Rosa De Yanacoto Group
She works making chocolates which she later sells to the people in her area. She has been working like this for more than two years. Thanks to this business she has been able to finish her studies in hotel and tourism management. In addition to this business, two months ago she began working in a factory, which gives her additional income.
Pamela's goal is to set up a juice bar in her home where she also can offer her chocolate products. In this way she will be able to save for her future studies, since one of her goals is to study architecture in the university.
She requested the loan to buy supplies for making chocolate, such as sugar, milk, vanilla, and lard, and materials like decorative boxes, since she has Christmas orders to deliver. Santa Rosa de Yanacoto Communal Bank is grateful for the loan offered.
Pamela is the one standing on the right side, wearing a fuchsia polo shirt. Cecilia was not able to be present at the distribution because of work and Sr. Benito appears in the small photo in the upper corner of the photograph.
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