Microempresarios Emprendedores Group
Flora is separated with five independent children. At 66 years of age, Flora has managed to achieve some of her goals, such as improving her home and helping her children with their education. She currently makes a living by selling papa rellena (deep-fried stuffed potatoes), Jell-O, and soft drinks. Her business is mobile and she has had it for more than three years. She is requesting this loan so she can invest in her business by buying sugar, gelatin, fruit, and oil. To set up a kiosk where she can sell her products is her greatest wish.
The group "Microempresarios Emprendedores" thanks the people who made this loan possible. Flora is the first from the right. She is wearing a black sweater and a white polo shirt.
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