Nuevos Emprendedores Alto Cenepa Group
Pascualina is the group president. She is a single mother of five children, but only one is still under her care. Pascualina is in the recycling business. She buys and sells bottles, cans, cardboard, plastic, paper, iron, and other materials. Pascualina started this business 13 years ago because she was not earning enough income. She previously worked as a cook at a popular diner.
Pascualina will use her loan as additional capital since she already has several customers. Her dream is to expand her business, so she hopes to acquire several tricycles and a cargo truck so that she can transport all of her materials. In the photo, Pascualina is the woman standing in the middle of the group. She is extremely pleased and appreciative of the help she has received, which gives her the drive to press forward.
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