This communal bank “Juventud Unida” (United Youth) comprises 5 enthusiastic, dedicated members, who keep improving through their businesses. Isabel, one of the members, is married and has two school-age children. Thanks to loans, she could start and invest in her own business, a grocery store in her house. She is proud to have maintained the business through perseverance.
She will use this loan to buy groceries and candies. Her greatest desire is to finish building her house. The communal bank “Juventud Unida” is grateful for the loan that has made its progress possible. Isabel is the first person on the left and is wearing a white t shirt. Teresa's photo is at top right.
Este es el grupo “Juventud Unida” conformado por 05 socios entusiastas y comprometidos, que por medio de sus negocios siguen mejorando cada día. Isabel una de las integrantes es casada con 02 hijos en etapa escolar. Ella cuenta con una tienda en su vivienda, gracias a los créditos obtenidos pudo invertir y así emprender su propio negocio. Se siente orgullosa pues gracias a su perseverancia y dedicación ha mantenido su negocio. Su actual crédito lo destinará para la compra de abarrotes y golosinas. Terminar de construir su vivienda es su mayor deseo. El grupo “Juventud Unida” agradece el crédito brindado ya que hace posible su progreso. Isabel es la primera del lado izquierdo y viste polo blanco. Teresa está ubicada en la parte superior al lado derecho.
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.