Santa Maria Group
52-year-old Genoveva is married and has four children, one of whom is not yet an adult. Genoveva gets up very early every morning to open her store which is a source of income for her household. It has given her a lot of satisfaction over the 20 years she has been running it. Genoveva set up this business with the help of her husband as he needed support in order to provide for their family. With her loan, Genoveva will stock her business with merchandise, buying school supplies. In common with Genoveva, every member of this group has their own story, with good and bad moments throughout their lives. However, if they have one thing in common, it is their desire to do well for the sake of their families and their businesses and they demonstrate this desire every day.
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