Nueva Generacion Group
One of the members, Carmen, is 60 years old and a single mother of two. She only lives with her younger son who continues his higher education at a technical school thanks to the income that her restaurant provides. It's been almost 20 years since she started this business and her loyal customers continue to increase thanks to the special seasoning that she puts in all of her meals.
Carmen will use this loan to buy ingredients like rice, sugar, noodles, oil, etc. in bulk so that her meals cost less to make which earns her greater profits for her household. Her dream, which is already coming true, is first for her sons to become professionals, and also to be able to increase the space where she serves food to give her customers greater comfort.
Carmen is wearing a black jacket and white t-shirt in this photo. Jenny Bell does not appear in the picture for work reasons.
Carmen esta con una casaca negra y polo blanco. *en esta fotografía no se encuentra presente Jenny Bell, por motivos de trabajo.
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