Los Angeles De Ventura Group
She’s been in business four years which she started selling plastic cups and plates with the idea of earning higher income to cover food and utility costs. She used to work in various houses doing domestic labor.
With her effort and work she’s managed to build her house and raise her children. She currently earmarks her earnings to cover food costs and to buy merchandise for her business. Her plan for the future is to open her own locale to sell her wares. She will use the loan to buy merchandise.
Teodora belongs to the Los Ángeles de Ventura” communal bank which has six members who named it that because one of the members of the group built a school in the area with the same name.
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