Mujeres Exitosas Group
Yolanda has been working selling clothes for over five years. She works based on prior orders and does not have a locale of her own at present. She also does crafts work to earn extra income for her home. With her work and dedication she’s been able to support her children’s education and increase working capital.
Aiming to continue growing in her business she’s asked for a loan to buy clothes like polo shirts, jackets, shorts, etc. in order to offer her customers.
The “Mujeres Exitosas” communal bank are grateful for the loan granted since it makes their 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