Sarita Colonia Group
Manuel, 66, is married and has six children five of which are independent and one is still in his care. He has been a teacher for 31 years, a job he started since he came to live in his community. With his work in this profession he’s managed to date to improve his house and provide more comfort at home as well as provide food and education for his children. He’d like to continue helping the school where he teaches classes. He will use the present loan to help with his wife’s medical costs.
A group whose only objective is to improve their economic conditions is what characterizes this “Sarita Colonia” communal bank. Sra. Kathy Rocio could not be present for work reasons.
La Sra. Kathy Rocio no puedo estar presente por motivos de trabajo.
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