Nancy is a widow with 5 dependent children. She's been with EDAPROSPO for a year and a half, and she's had a business selling sandals for more than 5 years. She was initially motivated by one of her children, who inspired her to devote herself to this business to make it profitable. With her efforts and hard work, she's been able to provide for all of her children, giving each one of them an education. Now, her income will be invested in her business and used to cover the household expenses. For the future, Nancy plans to expand her business and remodel her house. She will use the loan to buy merchandise for her business, because in this season she tends to increase her sales. Nancy belongs to the communal bank "Responsibilidad y Progreso." It's been a year and a half since it was formed, and the bank is comprised of 6 people.
La Sra. Nancy, es viuda y tiene 5 hijos de los cuales uno aún depende de ella. Tiene un año y medio con Edaprospo y se dedica a la venta de sandalias desde hace más de 5 años. Comenzó por motivación de uno de sus hijos, quien le inspiro a dedicarse a este negociopor ser rentable. Con su esfuerzo y trabajo, ha podido sacar adelante a todos sus hijos, dándole educación a cada uno de ellos. Actualmente su ingreso lo destina en la inversión de su negocio y a cubrir sus gastos familiares. Su plan para el futuro es expandir su negocio y remodelar su casa. Ella usó el crédito en la compra de mercadería para su negocio, ya que en esta temporada tiende a aumentar sus ventas. Nancy pertenece a la alcancía comunal “Responsabilidad y Progreso”, el cual tiene 1 año y medio desde que se formó y está conformado por 6 personas.
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.