Yahve Yire Group
This is the “Yahve Yire” group; it has six responsible, hardworking members who are going through their 5th cycle. Luis is a 43-year-old man who used to sell pecans, garbanzo beans and lima beans. He and his wife had to leave their home in Ica because of a great earthquake that affected them. They started a new life in the capital. He went through difficult times and with much effort they were able acquire their own home with loans they requested from two banks. Six months ago he opened a small store at home that he hopes to make grow through his efforts. His income helped his three children go to school. His dream is to see them become professionals.
He needs the loan to buy rice, oil, sugar and milk which is what he needs to stock his little store. Later on, he’ll buy another computer for his children that’s needed for their school work. He’s confident that he will reach his goals with help from God, lenders and his own effort. Luis is first from the right wearing a brown checked 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