Señora Maria is 35 years old. She is married and has two children who are still dependents. She has been in EDAPROSPO for 7 years, and her business is buying and selling second-hand items such as refrigerators, washing machines, stoves, microwaves, etc. She has been in this business for 15 years. She began it with the idea of being able to open a workshop and thus pay her expenses. With her effort and work, she has succeeded in building her house. Now her income is destined to cover the water and electricity expenses, while her husband pays for food and the education of their children. Her plan for the future is to construct the second floor of their house and continue expanding her business. She will use the loan to purchase merchandise for her business. Maria belongs to the communal bank "Los Hijos de Dios" (The Sons of God), which consists of 8 people, and this is the first time that she has held the position of president.
La Sra. María de 35 años de edad, es casada y tiene 2 hijos los cuales aún dependen de ella. Tiene 7 años con Edaprospo y se dedica a la compra – venta de artículos de segunda mano como refrigeradoras, lavadoras, cocinas, microondas, etc. tiene 15 años en este negocio el cual inicio con la idea de poder abrir un taller y así solventar sus gastos. Con su esfuerzo y trabajo ha logrado construir su casa. Actualmente su ingreso lo destina a cubrir los gastos de agua y luz, mientras que su esposo cubre los gastos de alimentación y educación de sus hijos. Su plan para el futuro es construir el segundo piso de su casa y seguir creciendo con su negocio. Ella usó el crédito en la compra de mercadería para su negocio. María pertenece a la alcancía comunal “Los Hijos de Dios”, el cual esta conformado por 8 personas y es su primera vez que lleva el cargo de presidenta.
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.