Greetings from Peru! We present to you a group of 7 entrepreneurs with lots of business creativity. These are the members of the community group "New Dawn." One of the members is Lorenza who is 48 years old, single and the mother of 4 children. She works every day selling clothing. This activity has generated earnings that cover the education expenses of her children. In the future she would like to have her own store where she can sell her products and obtain larger earnings. With the loan she has been granted she will invest it in a line of clothes that is equally for men and women. Together Lorenza and all of the members are grateful to Kiva and Edaprospo for granting them the loan and for the confidence they have instilled in them. She left us with the promise that she will complete all of her scheduled payments.
Saludos desde Perú, les presento a un grupo conformado por 7 personas emprendedoras y con mucha creatividad para los negocios. Así son los integrantes del grupo comunal “NUEVO AMANECER” una de ellas es la Sra. Lorenza de 48 años de edad soltera y madre de 4 hijos, ella se dedica diariamente a la venta de ropa, el cual le ha generado ganancias para poder cubrir los gastos de educación de sus hijos, En el futuro le gustaría tener un local propio donde poder vender sus productos y obtener mayores ganancias económicas. Con el préstamo otorgado lo invertirá en una línea de ropa tanto para hombre como para mujer. A la vez la Sra. Lorenza y todos los integrantes se encuentran agradecidos con Kiva y Edaprospo por el préstamo otorgado y por la confianza que se les ha sido brindada. Se despide Dejando la promesa que cumplirá todas sus metas propuestas.
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.