La Medalla Milagrosa Group
Señora Norma, aged 57, is married and the mother of four adult children. She has a grocery store, which has been her sole source of income for over eight years. She began this activity as a result of the lack of a grocery in her neighborhood. In the course of time she expanded her store and made it better known, and she is very grateful to her neighbors who supported her over all these years. With the income from her grocery she could install her home and enjoy more comfort, and in the future she would like to see her grocery expanding much more. Norma will use this loan to buy polo shirts for schools.
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