Eva is one of the members of the group. She is 50 years old with 3 children. She has been working as an Avon beauty products representative for 15 years. Eva is happy with her work because she makes her own work schedule and has time to do household chores and be with her granddaughter who lives with her.
The loan will be used for tuition and college housing fees for her children. Her greatest desire is to see her children become professionals.
The group is grateful to the Kiva lenders for the loan. Eva is the person wearing the black sweater, and the photo includes Celestino in the top left since he could not be present for the group photo because of work reasons.
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