The group "Union Progreso" is made up of 11 women entrepreneurs who work in diverse areas of retail. Carole, who serves as the secretary of the group, is 32 years old and is in a civil union with a dependent son. In 2006, she started her home business where she sells clothes, beverages and snacks, which she continues to run now. Before that, she was a university student and in her free time worked as a nanny.
She will invest the loan in new clothes, blankets, and beverages. Her biggest wish is to expand her business and finish building the facade of her house. The group thanks the investors from KIVA for the loans. Carole is the first person standing at the right.
El grupo “UNION PROGRESO” está conformada por 11 mujeres emprendedoras quienes se dedican a las diversas aéreas del comercio minoristas. Carole cumple la función de secretaria en el grupo tiene 32 años es conviviente con un hijo dependiente. En el año 2006 implemento su negocio de ropa, bebidas y golosinas en su vivienda a la actualidad viene realizando dicha actividad. Años atrás era estudiante universitario y en sus tiempos libres trabajaba como nana. El préstamo lo invertirá en la compra de ropa, frazadas y bebidas. Su mayor deseo es ampliar su negocio y terminar de hacer la fachada de su casa. El grupo agradece a los inversionistas KIVA por el préstamo brindado. Carole es la primera persona parada del lado derecho. La Sra. Lucy no pudo estar presente para la foto por encontrarse en su centro de labores.
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.