Santa Cruz De Cocachacra Group
Violeta, age 51, is married and has one child, who attends the university. Several years ago she set up a store in her house. She has now converted it into a restaurant, where she offers snacks and soft drinks.
Years ago she worked as a kitchen helper. That is how she decided to undertake her own business, which is going well for her.
She will use the loan to buy soft drinks, chairs, and tables for her business. Her biggest wish is for her daughter to complete her professional studies.
The group is grateful to the Kiva lenders for the proffered loan. Violeta is the first person seated on the right.
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