Virgen Del Carmen Group
Nila has come to have loyal customers, which has generated profits to cover the costs of her household. In the future, she would like to have her own location where she can sell her products and earn a better income.
With the loan provided, she will invest in buying more products for her bookstore (books, schools supplies, etc.) and thus continue satisfying the needs of her customers and get ahead. Nila and all the members of her group are grateful to Kiva for the loan and for the confidence it has brought them.
Nila is the first woman on the right, sitting with the jacket. She says goodbye with a big hug to Kiva for the opportunity.
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