Sol De Vitarte Group
One example is Blanca, who is 44 years old, married and a mother of six children who are her driving force every day. Blanca earns her living from her hardware store which she has been progressing for over a year and half. In the future she would like to be able to expand her business to generate more income for her family and in this way meet the expenses of her son's education and improve her house. She will use the loan to buy iron and cement for resale.
Blanca and the "Sol de Vitarte" group are very grateful for the trust which has been afforded to them for which they express their gratitude.
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