El Renacer De Chacrasana Group
Elba is 57 and married with 3 children, who live independently. Elba made the decision to start her own business because she wanted to get ahead and afford her family a better quality of life. She set up a stationery in her home and she has been in this line of work for 8 years. Elba is proud, because with her husband’s help she has succeeded in her children becoming professionals. Currently she is supporting one of her granddaughters with her education.
She will use the loan requested to buy school equipment, such as notebooks, ballpoint pens, folders and felt-tip pens so she will have them to offer her customers for the school year. Elba’s wish is to continue working positively and therefore continue to help her granddaughter. The communal bank ‘El Renacer de Chacrasana’ are grateful for the loan offered and they are committing to continue working well.
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