El Progreso De La Amistad Group
Melva has worked for the last three years making and selling pastry, that is cakes and chocolate sweets made by herself. At the same time she has a textile business where she does embroidery. This work arose because her husband’s salary was insufficient to cover the cost of her children’s education. Melva tells us that it was in no way easy and she has to work very hard to be able to get ahead but thanks to her effort and dedication she’s attained better income that has allowed her to build her house, her children have an education and above all her family has better quality of life.
With the goal of continuing growing, she’s asking for a new loan to buy ingredients (sugar, flour, etc.) to make her sweets. Edaprospo believes that Melva will reach her goals with much work and effort and that Edaprospo loans will help her.
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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Success!! The loan was 100% repaid