Greetings from Peru, I am going to introduce you to a group comprised of eight members who have great business initiatives. They are known as the Santa Ana communal bank. One of the members is Rosa, 31 years old. She is a single mother of a son, who is her motivation to fight and progress every day. Rosa works by selling grocery products beginning very early in the morning. She sells them from her grocery store. This way, she can move forward and prosper as a small business owner. With her recent loan, she will invest in buying groceries and fruits to sell. Rosa is very happy with the loan she was awarded and is thankful for the interest and the confidence people have put in her. She promises to continue excelling in order to improve the quality of life for herself and her family.
Saludos desde Perú, voy a presentar les a un grupo conformado por 8 integrantes con gran iniciativa para los negocios, así se caracteriza el grupo comunal “Santa Ana”. Una de los integrantes es la Sra. Rosa de 31 años de edad y madre soltera de 1 hijo, el cual es su motivo de lucha y progreso de todos los días, la Sra. Rosa desde muy temprano se dedica a la venta de productos de abarrotes que vende en su bodega. y así poder salir adelante y prosperar como pequeña comerciante. Con el reciente préstamo lo invertirá en compras de de abarrotes y frutas para su posterior venta. La Sra. Rosa está muy contenta por el préstamo otorgado y agrádese el interés brindado y la confianza que han depositado en ella, deja la promesa de seguir superándose para mejorar la calidad de vida de ella y su familia.
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.