Luz De La Esperanza Group
Olga is the treasurer of the group. She is married and has two children, one of whom she still supports. She has been selling candy as a street vendor for over 10 years. Most of her customers are people that travel to the center of the country. She is happy to have managed to help her children with their studies.
She will use her latest loan to purchase candy, confectionery goods and sodas. Her biggest wish is to buy a car to provide transportation services.
The "Luz De La Esperanza" communal bank is grateful for the loan that enables them to progress. Olga is the first woman sitting on the front row starting from the right.
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