The communal bank Señor Del Rimac is made up of 6 women entrepreneurs and enthusiasts beginning to work with the program.
One of the members is Janet. She is married, 32 years old, with 2 young children. Janet works growing and selling flowers as most people do who live in these areas.This business has permitted her to increase her income and this is the way she supports her children with their education. Her biggest desire is to open her own stand where she can sell her flowers. The requested loan will be used to buy seeds.
The new group Señor Del Rimac is grateful for the credit provided.
Janet is the second from the right side and wearing a turquoise polo and carrying a baby on her back.
La nueva Alcancía Comunal “Señor Del Rimac” está conformada por 06 mujeres emprendedoras y entusiastas de comenzar a trabajar con el Programa. Una de las socias es Janet de 32 años casada con 02 menores hijos. Janet se dedica a la siembra y venta de flores como la gran mayoría de la gente que habitan esas zonas. Este negocio le ha permitido incrementar sus ingresos y de esta manera apoyar a hijos en su educación. Su mayor deseo es de poner un puesto donde pueda ofrecer sus flores. El crédito solicitado lo destinará para la compra de semillas. El nuevo grupo “Señor Del Rimac” agradece el crédito brindado. Janet es la segunda del lado derecho y viste polo turquesa y lleva cargada a su bebe en su espalda.
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.