Elizabeth is married and has belonged to Edaprospo for more than five years. She and her husband have one dependent child. For more than ten years, she has been selling clothing. With hard work, she has helped her parents with some expenses and been able to continue building her house.
Her income now pays for inventory purchases, while her husband's covers food expenses. She plans to expand business by stocking more variety and to finish building her house. She will use the loan to buy merchandise for her business. Elizabeth belongs to the communal bank “Manos Trabajadoras,” which has seven members. She has been president for the past two years.
La Sra. Elizabeth es casada y tiene más de 5 años con Edaprospo. Tiene 1 hijo el cual aún depende de ella y su esposo. Se dedica a la venta de prendas de vestir desde hace más de 10 años. Con su esfuerzo y trabajo ha podido ayudar a sus padres con algunos gastos y también ha podido avanzar con la construcción de su casa. Actualmente su ingreso lo destina a cubrir los gastos de vestimenta y servicios, mientras que su esposo cubre los gastos de alimentación. Su plan para el futuro es tener un negocio mucho más grande y con más variedades de productos, también terminar de construir su casa. Ella usó el crédito en la compra de mercadería para su negocio. Elizabeth pertenece a la alcancía comunal “Manos Trabajadoras”, el cual está conformado por 7 personas. Ella leva el cargo de presidenta desde hace 2 años.
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.