Buscando Un Futuro Group
With much effort and work, Esmerita has been able to buy her plot of land where she plans to build her house. Currently her income is dedicated to food and clothing expenses. Her plan for the future is to open a store in her home.
She plans to use the recent loan to buy materials to make bracelets since she has many orders because of the Christmas season.
She has been with the group for four months. The group is made up of seven people and was formed thanks to promotions by the analyst.
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