The group “Progreso y Desarrollo” (Progress and Development) is made up of seven members, all of whom are hardworking, entrepreneurial individuals. The group was established over seven years ago, and all of the members work very hard to bring resources home to their families and live economically.
Luz is 44 years old, separated from her husband, and has grown children. She has been an employee of a textile quality control business for over six years. Thanks to this job, she has been able to educate her children, build her own house and work to get ahead and provide all she can for her family. With this most recent loan, Luz will invest in the purchase of clothing for sale in her men and women’s clothing business.
Personas empeñosas por salir adelante, de esta manera se denominan los integrantes del grupo “Progreso y Desarrollo" grupo conformado por 7 socios hace mas de 7 años, que entre el hogar y sus familias ven la forma de llevar ingresos económicos a sus hogares por medio de sus negocios. Tal así es, el caso de la señora Luz de 44 años de edad separada y con hijos todos ya mayores de edad y hace más de 6 años la señora Luz es empleada en una empresa textil de control de calidad. Gracias a este trabajo a podido darles educación a todos sus hijos y construir su casa esto lo hace con el mejor de los esfuerzos para así poder salir adelante cada día por el bien de ella y su familia. Con el reciente préstamo ella invertirá en la compra de ropa y poner el negocio de venta de ropa para damas y caballeros.
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.