Uniendo Fuerzas Group
This is the group “Uniendo Fuerzas” which is made up of eight enthusiastic members and workers.
Margarita is the treasurer of the group, a position she has taken responsibly. She has been working in a school for some years, serving as a teacher. Currently she is starting a business which consists of renting costumes for children. This is why she is asking for a loan to buy costumes. With her previous loans she could improve her housing.
Her greatest desire is to grow her new business. Margarita is married and has one son which has been her motive to get ahead. She feels happy because thanks to her work she can continue supporting her family.
The communal bank “Uniendo Fuerzas” is grateful for the loans provided as they make it possible to progress.
Margarita is in the back row, over on the right side, and is wearing a red jacket.
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