Corazon De Jesus Group
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.
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