Ms. Maria del Carmen is married and has over 5 years with EDAPROSPO [see below]. She has 2 children, one of which is still dependent on her and her husband. Maria has been in food sales for over 15 years. With her hard work, she has been able to get ahead providing for a better life for her family. She has also made progress with the construction of her home. Currently, her earnings are used to cover the cost of clothing and services, while her husbands earnings cover the cost of the home and food. Her plan for the future is to have a much larger business, that is located within a much more commercial area. She also wants to finish building her home. She used the loan for the purchase of goods and supplies for her business. Maria belongs to the “Amigas Unidas” ["Friends United"] communal bank, which consists of 5 people. She has held the role of president for more than two years now.
La Sra. María del Carmen es casada y tiene más de 5 años con Edaprospo. Tiene 2 hijos de los cuales uno aún depende de ella y su esposo. María se dedica a la venta de comida desde hace más de 15 años. Con su esfuerzo y trabajo ha podido sobresalir adelante dándole así una mejor vida a su familia. 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 en su hogar. Su plan para el futuro es tener un negocio mucho más grande y que se encuentre ubicado dentro de una zona mucho más comercial, también terminar de construir su casa. Ella usó el crédito en la compra de mercadería e insumos para su negocio. María pertenece a la alcancía comunal “Amigas Unidas”, el cual está conformado por 5 personas. Ella lleva el cargo de presidenta desde hace más de 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.