Peruanos A Trabajar Group
An example of this is Juana, 61, who is a widow and the mother of three children who are all adults. She has sold beauty products for the last 8 years and also sells fish in a stand she has in the market as a source of household income; it has given her much satisfaction over time.
Juana started the business when her husband passed away leaving her with three minor children to care for; she needed to find a way to support her family therefore. She will use the latest loan to stock up on merchandise buying new beauty products.
Just like Juana, each of the other group members has a particular story with good and bad moments throughout their lives but if they agree on anything it’s their wish to get ahead, something they display daily for their families’ and their business’ wellbeing.
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