Emprendedoras Del Valle El Triunfo Group
This is the case with Señora Gumercinda, aged 41, who is the mother of three grown children. For more than 18 years, she has been working everyday selling a preparation of natural products. This has earned her profits to cover her household expenses. At the same time, she also works in the evenings selling food. She is planning on investing the new loan in purchasing merchandise for her business.
As with Señora Gumercinda, each member of the group has their own story, but they all share in the desire and the efforts to always move ahead in life for the well-being of themselves and their families.
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