Para Un Futuro Mejor Group
EDAPROSPO has taken this opportunity to get to know Raphael, one of the members of this group. He is 26 years old and the father of two children he cares for with the support of his partner. Raphael began working at a company that sells fuel. With the knowledge he gained and his desire to succeed, Raphael decided to start his own business in which he currently sells fuel from his home. He also sells beverages, such as sodas and beer. Through his work and effort, Raphael has been able to continue supporting his family since this is now his only source of income.
He is requesting a loan to buy tanks of fuel and beer. His greatest wish is to continue growing his fuel business. Raphael is the second person on the right wearing a yellow shirt and gray trousers. He is grateful for the assistance that will allow him to make progress.
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