Ms. Liz is 31 years old, is married and she has one son who is dependent on her. She has spent two years with Edaprospo and she has dedicated herself to the sale of decorative tables for 12 years. She began with a small quantity of merchandise which was increased over the passing of several years. With her strength and work she has completed opening four more stalls in a very well known market and she also completed the purchase of a car. Currently her earnings are destined for the education of her son, while her husband covers the expenses for food and clothes. Her plan for the future is to continue growing her business and to buy a house. She will use the loan to buy merchandise for her business. Liz belongs to the community group "Purito Norte" which is composed of 7 persons and she has held the position of president for one year.
La Sra. Liz de 31 años de edad, es casada y tiene 1 hijo el cual aún depende de ella. Tiene 2 años con Edaprospo y se dedica a la venta de cuadros decorativos desde hace 12 años. Empezó con una cantidad mínima de mercadería el cual fue aumentando con el transcurrir de los años. Con su esfuerzo y trabajo ha logrado aperturar 4 puestos mas en un mercado muy conocido y también logró comprarse un auto. Actualmente su ingreso lo destina en la educación de su hijo, mientras que su esposo cubre los gastos de alimentación y vestimenta. Su plan para el futuro es seguir creciendo con su negocio y comprarse una casa. Ella usó el crédito en la compra de mercadería para su negocio. Liz pertenece a la alcancía comunal “Purito Norte”, el cual esta conformado por 7 personas y lleva el cargo de presidenta desde hace 1 año.
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.