Elsa is 51 years old, married with three children. She belongs to the "Jehova Jireh" communal bank, made up of 7 members for over six years. She sells cakes and pastries very early in the morning. She also sells beauty products. She will use the loan to purchase decorations for her cakes to make them appear more attractive to her clients and in this way generate more income. This will give her and her family a better quality of life. She is a hard working woman, focused, and diligent just like the rest of the members of this group.
Elsa tiene 51 años de edad, es casada y con 3 hijos. Ella pertenece al grupo comunal "Jehova Jireh" conformado por 7 integrantes desde hace 6 años. Ella se dedica a la venta de tortas y pasteles; productos que vende desde muy temprano todos los días. Además, de manera complementaria ella vende productos de belleza. El préstamo lo usará para comprar adornos para las tortas, esto hará que sus productos sean más atractivos a la vista de sus clientes y le generará mayores ingresos económicos, de esa manera le dará una mejor calidad de vida a su familia. Elsa es una mujer trabajadora, enfocada y diligente así como todas las socias de este grupo.
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.