Club De La Amistad Group
Francisca is 40 years old and lives with her three school-age children. She is a member of the board and chairs the Group.
For over 15 years, Francisca has owned a grocery store selling basic items. She has requested this loan to buy sugar, milk and Paneton (Peruvian Christmas cake).
Francisca's dream is to accomplish her aims for her children have a better quality of life. Francisca is very happy about this loan and thanks Kiva. Francisca is in the front row of the photograph, second from the right, wearing a pink t-shirt and blue sweater.
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