The 'Virgen del Carmen' community bank is made up of seven responsible women. Francisca is the group's treasurer, a role that she has carried out responsibly. Francisca is 52 years old. She lives in Matucana district together with her husband and one child who is still dependent on her. Her current business is buying and selling groceries such as rice, sugar and noodles. She travels to the center of the country to sell her products. The money she makes is very helpful. Through her own hard work and with her husband's help, she has been able to achieve one of her goals which was to finish building her home. Her next goal is to set up a grocery store where she can sell basic household products. This loan will enable her to buy rice, sugar and noodles, and she will be able to travel to sell them. The members of the 'Virgen del Carmen' community bank are grateful for the loan they are receiving. Francisca is on the right-hand side of the picture wearing a white jacket and brown trousers.
La Alcancía Comunal “Virgen del Carmen” es un grupo conformado por 07 mujeres responsables, siendo Francisca la tesorera del grupo, cargo que ha llevado con responsabilidad. Francisca tiene 52 años de edad, ella junto a su esposo y 01 hijo aún dependiente vive en el distrito de Matucana. Actualmente se dedica a la compra y venta de abarrotes como arroz, azúcar, fideos entre otros, la cual viaja al centro del país para venderlos, el dinero que percibe es de mucha ayuda, con esfuerzo y la ayuda de su esposo ha podido cumplir una de sus metas terminar de construir su vivienda. Su siguiente meta es de instalar una bodega donde pueda ofrecer productos de primera necesidad. Este crédito le servirá para comprar arroz, azúcar y fideos y así poder viajar para venderlos. La Alcancía Comunal “Virgen del Carmen” están agradecidos con el crédito brindado. Francisca está ubicada al lado derecho, viste una casaca blanca y pantalón marón.
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.