This is the “Esperanza y Progreso de Huaycan” (“Huaycan’s Hope and Progress) Group: it is composed of responsible and dynamic people who have been working together for more than 1 year. Marina is a member of this group: she is 50 years old, she is separated from her husband and she has 2 children. Marina started her own activity 3 years ago, selling “ceviche*” (a Peruvian seafood dish) in her house. Thanks to her efforts she has succeeded in providing for her family. She dreams of having her house built. She is requesting a loan to buy a fridge to store her products. Marina is grateful to Kiva for its support. Marina is the second from the left, wearing a sky blue polo shirt.Richard is on the right hand side of the photograph.
Este es el grupo “Esperanza y Progreso de Huaycan”, la cual lleva trabajando más de 01 año, conformada por personas dinámicas y responsables. Este es el caso de una de las socias Marina de 50 años, separada y 02 hijos. Hace 03 años que Marina inicio su propio negocio de la venta de ceviche en su vivienda. Con su esfuerzo ha logrado sacar adelante a su familia. Su sueño es de construir su casa. Solicito el crédito para la compra de una refrigeradora donde le permita guardar sus productos. Marina agradece a Kiva por la ayuda brindada. Marina es la segunda del lado izquierdo viste polo celeste.
*El joven Richard se adjunta al lado derecho de la fotografía.
EDAPROSPO 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.