Las Orquideas Group
Betty offers seamstress services and as a secondary activity weaves goods which she makes by order. These activities have allowed her to support her children's schooling. One of her goals is to see her children become professionals. With the purpose of continuing to support her children she is requesting the loan which she will use for school supplies. Betty is the third from the left dressed in the grey shirt and black pants. The "Las Orquideas" group is thankful for the loan provided because it makes it possible for them to move forward.
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