Caminando Juntos Group
Since a very young age, Mónica has been in commerce having started out selling fruit. As time passed and following her mother’s example, she decided to start a business buying and selling cheese. She’s currently doing well in her business because she has regular customers. Later on, her goal is to open a cured meats store. She requested the loan to buy cheese since she has pending orders to fill. Mónica is seated, first on the left, wearing a black jacket.
Mónica as well as the “Caminando Juntos” group are grateful to Kiva lenders for collaborating with their progress.
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