María is 33 years old, lives with her partner, and has one child who is still dependent on her. She has been with Edaprospo for more than two years and belongs to the 'Cristo el Salvador' (Christ the Savior) community bank. She has been in business making clothing for five years. Her business is called 'Creaciones Estefano' in honor of her young son. She started out providing sewing services for another company with a view to making progress and getting ahead in life. As a result of her efforts and hard work, she has managed to buy a machine so that she can continue making her products. Right now her income is used to cover her family's food expenses and to pay for her son's education while her husband covers their water and electricity bills. María is planning to use this loan to buy materials for her business. Her plan for the future is to buy a house and ensure that her son studies for a degree. This group is two and a half years old and has seven members.
La Sra. María de 33 años de edad, es conviviente y tiene 1 hijo el cual aún es dependiente. Tiene más de 2 años con Edaprospo y pertenece a la alcancía comunal “Cristo el Salvador”. Se dedica a la confección de prendas de vestir, negocio con el cual lleva 5 años y tiene el nombre de “Creaciones Estefano”, en honor a su pequeño hijo. Comenzó haciendo el servicio de costura para una empresa, con la idea de progresar y poder salir adelante. Con su esfuerzo y trabajo, ha logrado comprarse una maquina para continuar con su producción. Actualmente su ingreso lo destina a cubrir los gastos de alimentación y el colegio de su hijo, mientras que su esposo cubre los gastos de agua y luz. Ella piensa usar el reciente préstamo en la compra de materiales para su negocio. Su plan para el futuro es comprarse una casa y lograr que su hijo estudie una carrera superior. La antigüedad del grupo es de 2 años y medio y esta conformado por 7 personas.
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.