La Vecindad Del Cinco Group
One case in particular is that of Sra. Martha. She is 52 years old and presses forward each day in her business of selling candy as a street vendor. Martha has great satisfaction in knowing that her two children have an education, food, clothing, and a roof over their heads. With this current loan, she plans to invest in the purchase of more candy. She also plans to change her method of selling her products by acquiring a vending stall.
Each member of the group "La Vencindad del Cinco" has a distinct business, but they all share the same level of dedication and effort that is required to make progress and move forward every day.
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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