Rosa is 40 years old. She lives with a partner and has five children, four of which are dependent. She has been working three years with Edaprospo and works selling salchipapas (fried hotdogs and potatoes served with condiments) and has been in the business for two years.
She began the business because she wanted to give her children an education and pay their school fees, and she also pays for food, water and electricity. She has also been selling cosmetics for a year. Through her efforts and work she has been able to buy some land where she is thinking of building a house and opening her own business.
She has been a member of the communal bank Corazón de Jesús for three years which is made up of eight people and was formed by an agreement of neighbors. She has been the president of the communal bank for eleven months and is thinking of using the latest loan to buy merchandise and some pigs to breed.
La Sra. Rosa de 40 años de edad, es conviviente y tiene 5 hijos de los cuales 4 son dependientes. Tiene 3 años con Edaprospo y se dedica a la venta de salchipapas con el cual lleva 2 años en este negocio. Comenzó a raíz de poder dar una buena educación a sus hijos y obtener solvencia para sus gastos, ya que es ella quien cubre los gastos de alimentación, agua y luz. También se dedica a la venta de cosméticos con el cual tiene 1 año. Con su esfuerzo y trabajo ha podido comprarse un terreno en donde piensa construir su casa y abrir un negocio propio. Tiene 3 años formando parte de la alcancía comunal “Corazón de Jesús” el cual esta conformado por 8 personas y que se formo por un acuerdo entre las vecinas de la zona. Lleva 11 meses como presidenta del grupo y piensa usar el reciente préstamo en la compra de mercadería y algunos cerdos para crianza.
EDAPROSPO 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.