Las Palomitas Group
On this occasion, she asked for the loan to continue investing in her business purchasing beverages like soft-drinks and water and snacks like cookies, candy and chocolates to stock her kiosk. Emilia’s wish is to continue improving her business.
The “Las Palomitas” communal bank is very grateful for the loan provided because it makes their progress possible. Emilia is wearing the blue jacket and black pants; her hair is short and she’s on the left side. Eduardo was unable to attend because of school since he’s in final exams now.
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