El Progreso Del Vallecito Group
One of the members is Ana, 36, whose family consists of her partner and 4 children. Ana has made her living selling groceries for over five years which she sells from a market in her neighbourhood. It was not easy for her to get her business ahead because she had financial problems, but with perseverance and hard work she was able to come through. Later, she would like to have a small grocery store in her home so that she can be close to her children.
She will use this loan to buy merchandise such as rice, sugar, milk, etc. for her stall. Ana is pictured second from the left dressed in a red sweater and red pants. The Group "Vallecito's Progress" is grateful for the assistance from the Kiva loans because it has made their progress possible.
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