Unidas Por Siempre Group
Such is the case of Jane, 31. She's married and has one minor child. She started out working in a factory selling furniture which made it possible for her to save money in order to start a business of her own where every day she sells bread rolls, gelatin treats, snacks, etc. outside a school. This business has allowed her to support her son’s schooling and also to make improvements to her dwelling.
With this current loan she will buy supplies for her business like bread rolls, gelatin treats, potatoes, etc. in order to prepare her dishes. Later on, she plans to open a grocery store to generate higher income.
The “Unidas por Siempre” group thanks those who made this loan possible. Jane appears in the rear. She’s first on the left and is wearing a black sweater.
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