Las Azucenas Group
Such is Delia’s case, a 23-year-old, married young woman with one dependent child. For more than two years now Delia has had a small shoe manufacturing shop. This business arose when it was noted that her husband’s income was insufficient to cover some of the household expenses. With the fruit of her efforts she was able to buy a piece of land and also to equip her business with the purchase of one shoe-making machine.
Aiming at continuing to improve, she requested the loan because she wants to buy another shoe-making machine that will make her work easier. Her greatest wish is to finish building her house.
The members of the “Las Azucenas” group are grateful to people who made this loan possible. Delia is standing first on the right wearing a black shirt and she’s carrying her son in her arms.
Bonifacia is in the upper left because she was unable to attend due to work, as well as Julia.
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