Señor De Luren Group
She has sold beauty products and beverages for more than 10 years and this has made it possible for her to furnish her home and give her children an education and the required care together with her husband. In the future she’d like to buy a car and put it to work as a taxi. With this most recent loan she will buy more beauty products for the season.
Like Zoila, all the members of the “Señor de Luren” communal bank are enterprising, tenacious women whose only goal is to be successful for their and their families’ wellbeing.
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