Las Gardenias Group
Elizabeth has worked as a street trader selling food for 15 years. In her spare time she provides laundry services. This is how she helps her husband with the household costs. Two years ago she bought a car which her husband uses for work.
Her loan will be invested in buying a new stove and cooking pots in order to continue preparing her delicious food for clients. Her greatest wish is to run a juicing business from her home. The group thanks KIVA lenders for the loan provided. Elizabeth is first on the right in the picture.
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