La Paz En Los Olivos Group
One of them is Germán, the group’s treasurer, who worked in the bakery business for a long time but unfortunately he was not doing well so he decided to leave it, which is why he decided to help his wife in her food business installed in the doorway of their house. Little by little he was learning and now has just opened his restaurant in a very central location.
Germán is thankful that he is doing very well. His regular clients enjoy the dishes they prepare in their restaurant. He works there with his wife who is the cook, and he serves the public and manages the business. He will use the loan to improve his business buying cooking utensils and some other tools of the trade that he needs. In the future he would like to move his business to his home but to do this he needs to extend it and improve it.
Germán is grateful for your support!
Germán ¡agradece su apoyo!
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