María is a widow and has been with Edaprospo for over 5 years. She has 8 children, 2 of which are dependent on her. Maria has been selling groceries for the past 7 years. With her efforts and work she has been able to get ahead and giver her family and better quality of life. She also sells food on Saturdays and Sundays. Currently she uses her income to cover clothing, service and food costs at home.
Her plan for the future is to expand her business, to move it to a much more commercial area, and for her daughter to study at a university. She will use the loan to purchase merchandise for her store. María belongs to the "Madres Puntuales de San Juan" communal bank, which is made up of 6 members. Maria is the president of the organization.
La Sra. María es viuda y tiene más de 5 años con Edaprospo. Tiene 8 hijos, de los cuales 2 aun son dependientes. María se dedica a la venta de abarrotes desde hace 7 años. Con su esfuerzo y trabajo ha podido salir adelante dándole así una mejor calidad de vida a su familia. También se dedica a la venta de comida los días sábados y domingos. Actualmente su ingreso lo destina para cubrir los gastos de vestimenta, servicios y de alimentación de su hogar. Su plan para el futuro es tener un negocio mucho más grande y que se encuentre ubicado dentro de una zona mucho más comercial, y que su hija estudie una carrera universitaria. Ella usara el crédito en la compra de mercadería para su negocio. María pertenece a la alcancía comunal “Madres Puntuales de San Juan”, el cual está conformado por 6 personas. Ella lleva el cargo de presidenta.
EDAPROSPO 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.