Los Angeles De Vitarte Group
One of the members, Sara, is 48 years old, married, and a mother to 5 children. She works daily to the sale of coffee beans that she harvests on her small plot of land. She also sells honey from bees which has allowed her to generate income to cover the costs of her children’s’ education.
With the loan she will invest it in the purchase of honey to resell. In the future she would like to have her own store where she can sell products to improve the finances in her hometown and offer a better quality of life to her family.
Similar to Sara, all of the members are grateful for the loan and for the confidence that has been entrusted to them.
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