Manos Unidas Group
One of the members is Sra. Giovanna. She is a 31-year-old single mother with two children. For the past six years, Sra. Giovanna has been selling children’s clothes every day from a small vending stall. She says that she has gained the loyalty of her customers and is able to generate income to cover her children’s expenses and those related to her home. In the future, she would like to have her own boutique where she can sell children’s clothes and obtain more income.
With this loan that was issued to her, Giovanna will invest in a small boutique so that she can earn more income. Sra. Giovanna is the third woman on the left (from the group’s perspective) wearing a black shirt. On a parting note, she would like to give Kiva a hug and tell everyone that she plans to accomplish all of her 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