La Amistad Group
Amelia, one of the members, is 59 years old, married, and has six adult children.
She sells fried food like roasted chicken, hamburgers, and ‘salchipapas’ [fried potatoes and fried sausages] outside of her house. She is happy because, through her effort, she has been able to help her husband with the household expenses.
Her greatest wish is to set up a restaurant. This way she would be sure to have greater income.
She is requesting the loan to buy supplies like chicken, potatoes, and cooking oil, etc.
The “La Amistad” group is grateful to the people who have made this loan possible.
Amelia is the first one on the left.
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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