Juana De Arco Group
One of the members is Sra. Yolanda. She is 36 years old, married, and has two children, one of whom is in high school. Yolanda wakes up very early every morning in order to sell cakes and pastries as her daily business. Generating income from her sales gives her great satisfaction since it has allowed her to buy furniture for her home and pay for her child's studies. In the future, she would like to build a house. With this current loan, Yolanda will buy accessories for cake decoration.
This description cannot be concluded without mentioning the actions and enthusiasm that each member demonstrates in order to reach their common goal, which is to provide financial stability for their families and to achieve progress in their businesses.
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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