Mi Banquito Group
Faustina decided to start a new business, raising guinea pigs and distributing them to rural restaurants. Being a member of the group "Mi Banquito" has allowed her to improve her economic standing and provide a better quality of life for her family.
Faustina's greatest wish is to see her children find good jobs. She will use the loan to raise guinea pigs for sale. The group thanks Kiva lenders for the loan provided. Faustina is standing on the left side. Nicolas was unable to be present for the group photo because he was working.
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