Microempresarios Emprendedores Group
María sells natural products. The vast majority of her customers are relatives and neighbours who live nearby. She’s had the business for more than a year. As well, she does cleaning at weekends to bring in some extra income. One of her biggest challenges is to help her children get ahead so she wants to continue working and provide her family with a better standard of living.
She plans to buy natural products such as extracts and pollen to offer to her customers with the loan money. Her communal bank is grateful for these loans which make progress possible.
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