Mujeres Al Progreso Group
Vanessa, age 25, is in a common-law marriage and has two children, ages six and three. She sells clothes by order to her customers. She has been doing this for some years. This way she has been able to help her husband, who works as a mechanic at the Jusat company.
Vanessa has a new business project, which is setting up a small grocery store at her house.
She will use the loan to buy winter clothes for children in order to be able to offer them to her customers.
The group is grateful to the Kiva lenders for the loan that has been proffered. Vanessa is the first one on the left.
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