Gotitas De Amor Group
Eugenia, one of the members of the group, works as a street vendor and has been selling chicken for 11 years. She started the business in an effort to improve her situation and gain more knowledge. Thanks to her hard work she has been able to build part of her house. Her wish is to have a poulty farm one day so she could earn more money. She has requested a loan to buy chicken to sell to her customers.
Eugenia is 37 years old, married and has three children, two of whom still live at home. The "Gotitas de Amor" group is grateful to the people making this loan possible. Eugenia is the one seated, wearing a black top and jacket.
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