Carmen is 46 years old, married, and has 3 children, 2 of whom are still dependent on her. She has been with EDAPROSPO for 3 years and makes a living purchasing and selling recycled items, a business she has had for 7 years. She started this business because it was profitable and she wanted to earn a better income. She has also had a cleaning service for the past 7 months. With much effort and work Carmen was able to purchase a motorcycle, and that makes it easier for her to transport the items she sells. Right now her income is used to cover her children’s school expenses, while her husband takes care of the family’s food and clothing expenses. Carmen’s plan for the future is to open a scrapyard and purchase several more motorcycles. She is planning to use the loan to purchase more recycled items so she can resell them at a better price. Carmen belongs to the “El Arbolito” [“The Little Tree”] group, which is made up of 7 members—they chose their name because the tree “grows and bears fruit”. Carmen has been the group’s president for one year.
La Sra. Carmen de 46 años de edad, es casada y tiene 3 hijos de los cuales 2 son aún dependientes de ella. Tiene 3 años con Edaprospo y se dedica a la compra y venta de artefactos reciclados, negocio con el cual lleva 7 años. Comenzó con la idea de obtener mejores ingresos, ya que este negocio le resulta más rentable. También se dedica al servicio de limpieza desde hace 7 meses. Con su esfuerzo y trabajo ha logrado comprarse una moto para facilitar el transporte de sus artefactos que da en venta. Actualmente su ingreso lo destina a cubrir los gastos escolares de sus hijos, mientras que su esposo cubre los gastos por alimentación y vestimenta. Su plan para el futuro es abrir una chatarrería y comprarse un par de motos. Ella piensa usar el reciente préstamo en la compra de más artefactos usados para revenderlos a un mejor precio. Carmen pertenece al grupo de “El Arbolito”, el cual esta conformado por 7 personas, y le pusieron dicho nombre porque el árbol “crece y da sus frutos”. Ella lleva el cargo de presidenta desde hace un año.
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.