San Antonio De Jicamarca Group
Sonia is 35 years old, married and has three children who are still dependent. She raises pigs, an activity she took on following her in-laws’ example who also were in that occupation. She also sells soft-drinks and mineral water at home earning extra household income that way.
Thanks to these activities Sonia has been able to help her husband cover schooling costs for their children. Sonia’s wish is to build her house since it’s currently made of adobe.
She will use the loan she requested to buy nutritionally balanced feed for her animals. The San Antonio de Jicamarca communal bank is a responsible group; they are grateful for the loan granted.
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