Virgen De Guadalupe De Santa Clara Group
One member is Carla, who is a single mother of two children. For the last 7 years she has been selling groceries and vegetables including potatoes, corn and onions in a small market. She works every day to get ahead and be able to send her children to school and cover the household expenses.
Her greatest wish is to see her children have professional careers. It is for this reason that she works so hard.
She will invest the loan proceeds in groceries for resale so that she can increase her income. In closing she sends her warm wishes to Kiva and Edaproso and says that she hopes that they achieve all of their goals.
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