Esperanza, age 48, is a member and the treasurer of the Emmanuel comunal bank, which is comprised of seven members. She is divorced and has two children. One of them is independent, and the other is a student.
She tells us that she is a cosmetologist, and that she works in a beauty salon close to her house. With her work effort she is helping her daughter pay for her education.
In her free time she sells clothes by order. She tells us that she also purchased a car, and she is making it work for an extra income.
She will use the loan to buy cosmetology materials. In the future she plans to make her dream of establishing a beauty salon in her house come true.
La señora Esperanaza tiene 48 años de edad es integrante y tesorera del grupo "Emmanuel" que conforma 7 miembros, ella es divorciada y tiene 2 hijos uno de ellos es independiente y la otra es una joven estudiante, nos cuenta que es Cosmetologa y que trabaja en un salon de belleza cerca de su casa, gracias al esfuerzo de su trabajo esta apoyando a su hija en el pago de sus estudios, en su tiempo libre se dedica a la venta de ropa a pedido, tambien nos cuenta que se a comprado su auto y lo esta haciendo trabajar para un ingreso mas en su economia, con el ultimo prestamo lo va utilizar en compra de materiales de cosmetologia en el futuro piensa realizar su sueño de poner un salon de belleza en su casa.
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.