Las Azucenas Group
América works in a repair shop. That is, she has her own shop where they repair tires. This business came from the idea of helping her husband, since he is a taxi driver. They both worked very hard to be able to get their children ahead. This business is already 12 years old. Thanks to her effort and dedication she has achieved education for her children. She bought land in Huancayo and her family has a better quality of life.
With the goal of continuing to grow she has requested a new loan to maintain and improve her tire business. We know that América will achieve her goals with a lot of work and effort, and that the EDAPROSPO loans will help her.
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