Balcon Florido Group
Idelfonza, 56, is married and has five independent children. For many years, she has been selling cheese upon request, distributing to stores, marketplaces and among her neighbors. Thanks to her efforts, she has been able to improve her house.
She will use the loan to buy cheese and be able to deliver all the orders placed by her customers. Her goal for the future is to open a bakery in a central location, which she is sure will result in better profits. In the picture, Idelfonza is located to the left and is wearing a light-blue t-shirt. “Balcón Florido” wants to thank the people that made this loan possible.
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