52-year-old Mariella is divorced and has six children. Five of her children live independently and one is still dependent on her. She is a new member of Edaprospo and this is the first time that her group have requested a loan from the institution. Mariella's business is a beauty salon, where she offers cosmetology services. She has been in this line of work for four years. Before that she ran a restaurant. She started out selling sweet treats and candies then beauty products from Avon and Unique. Through her hard work, she managed to open a beauty salon. She currently covers her food expenses and bills. Her plan for the future is to open a new restaurant. She will use this loan to buy new accessories for her beauty salon. The community bank is called 'Las Triunfadoras de Canto Grande' and it has seven members.
La Sra. Mariella, es divorciada y tiene 6 hijos de los cuales 5 son independientes y 1 dependiente. Es socia nueva de Edaprospo, ya que es la primera vez que el grupo solicita un crédito a la entidad. Su negocio trata de una salón de belleza en donde ella ofrece el servicio de cosmetología. Tiene 4 años en este rubro, ya que anteriormente tenía un restaurante. Comenzó con la venta de dulces y caramelos, luego con la venta de productos de belleza como Avon y Unique. Con su esfuerzo y trabajo ha logrado abrir su salón de belleza. Actualmente ella cubre los gastos de alimentación y pago de servicios. Su plan para el futuro es abrir un nuevo restaurante. Ella usará el reciente préstamo en la compra de nuevos accesorios para su salón de belleza. La alcancía comunal se llama “Las Triunfadoras de Canto Grande” el cual está conformado por 7 personas.
EDAPROSPO 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.