Unidos Para El Progreso Group
Cecilia is 41 years old, married, and has three young children. For more than six years, she has been selling baked goods such as cupcakes, cakes, flan, and other delicious treats. Cecilia also provides lodging services as a way of generating extra household income. Her greatest wish is to see her children become professionals. Her latest loan will be used to buy supplies such as flour, milk, sugar, and panettones that she will sell for the Christmas season.
The group “Unidos Para El Progreso” is grateful to those who made this loan possible. Cecilia is the first person on the right who is wearing a turquoise blouse.
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