Nueva Esperanza Group
Teodora is 56 years old and has 3 children, one of whom is of school age; they are the driving force and reason to keep moving forward. Teodora has made a living selling haberdashery for 3 years. Teodora is applying for a loan to buy wool, thread, needles, crochet hook[s]. Teodora's dream is to finish roofing her house and so be able to give her children a better quality of life. Teodora is very happy with this loan and she thanks Kiva.
[In the photo] you can find Teodora at the back, the second from the right, wearing a pink polo shirt and black trousers.
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