Juntos Triunfaremos En Cocachacra Group
Rosa, 39, is one of the members. She has a live-in partner and two dependent children. She's the president of the group.
Five years ago Rosa set up a small grocery store in her house where she sells necessity items and some beauty products. With this business she has been able to help her husband improve their family finances. Her biggest desire is to have a distributorship where she can sell products wholesale.
She'll invest the loan in rice, sugar, and perfume.
The group is grateful to the Kiva lenders for this loan. Rosa's the third one from the right; she has her child in her arms.
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