Señor De Los Milagros Group
Elisa is 52 years old and divorced. She has a convenience store where she offers basic products. She has been working in this manner for more than fifteen years. At night, she sells stuffed potatoes made to order. Her greatest wish is to continue improving her business. She will use this loan as working capital, which will purchase rice, sugar, milk, drinks, and potatoes. She is very happy with this loan and thankful to Kiva.
Elisa is the first on the right in the back dressed in a pink 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