This is the “Arco Iris” ["Rainbow"] group, made up of 14 community members, the great majority of them neighbors from the area. Hermenejildo is the group's treasurer, a duty he has carried out responsibly. He is 53 years old and married, with 4 children who are now independent. Hermenejildo and his wife have worked for more than 20 years in livestock raising. Currently, he has more than 50 cows, and from their production he makes and sells cheese. He feels happy, because through his hard work he has been able to buy his own land and help his family get ahead. He also comments that he is thinking about buying a moto-taxi [motorcycle with passenger attachment] so that one of his sons can work with it. He is requesting the loan to buy balanced feed for his animals, and to make the first payment on the moto-taxi. His greatest desire is to keep working in a positive direction. Hermenejildo is located in the back row; he is the fourth from the left, dressed in a blue shirt and yellow polo.
Este es el grupo “Arco Iris” conformados por 14 comuneros, la gran mayoría vecinos de la zona. Hermenejildo es el tesorero del grupo, cargo que ha llevado con responsabilidad, el tiene 53 años casado con 04 hijos independientes. Hermenejildo junto a su esposa se dedican hace más de 20 años a la ganadería a la fecha ya está contando con más de 50 vacas producto de ellas prepara y vende queso. Se siente feliz pues con su arduo trabajo a podido comprar su propio terreno y sacar adelante a su familia. También nos comenta que piensa comprarse una moto para que lo trabaje uno de sus hijos. Solicitó el crédito para la compra de comida balanceada para sus animales y para el primer pago de la mototaxi. Su mayor deseo es de seguir trabajando positivamente. Hermenejildo está ubicado en la parte posterior, es el cuarto del lado izquierdo viste camisa azul y polo amarillo.
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.