Vanessa is 27; she is married and has one son who is still depends on her. Together with her husband, she has been selling and repairing furniture for the last ten years, a business which they have named ‘YONJIN’ in honour of their first son. She started out with the idea of acquiring land and building her house. With effort and work she has succeeded in building her house and has been able to open her own business. Currently her income goes to covering the gas, electric and telephone bills; whilst her husband covers food costs. Her plan for the future is to finish the second floor of her house and buy a car. She used the loan to buy raw material for the carpentry. Vanessa belongs to ‘Las Triunfadoras de Canto Grande’ communal bank, which is made up of 7 people and was given that name due to the area in which the members live being called Canto Grande. She has held the position of president for the last 4 months.
La Sra. Vanessa de 27 años de edad, es casada y tiene 1 hijo el cual aún depende de ella. Junto a su esposo, se dedica a la venta y reparación de muebles desde hace 10 años, negocio al cual le pusieron el nombre de “YONJIN” en honor a su primer hijo. Comenzó con la idea de obtener su terreno y construir su casa. Con su esfuerzo y trabajo ha logrado construir su casa y poder abrir su propio negocio. Actualmente su ingreso lo destina a cubrir los gastos de agua, luz y teléfono; mientras que su esposo cubre los gastos de alimentación. Su plan para el futuro es terminar de construir el segundo piso de su casa y comprarse un auto. Ella usó el crédito en la compra de materia prima para la carpintería. Vanessa pertenece a la alcancía comunal “Las Triunfadoras de Canto Grande”, el cual esta conformado por 7 personas y le pusieron dicho nombre debido a que en la zona donde viven las socias lleva el nombre de Canto Grande. Ella ocupa el cargo de presidenta desde hace 4 meses.
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.