Trabajando Para El Futuro Group
One of them is Mercedes, 37. She has a partner and one son. Mercedes has made a living for three years selling clothing for women and men in a small space every day so she can get ahead and be able to pay for her son's school.
With the fruit of her labor Mercedes has managed to improve her home, help with her child's education, and continue improving her business. Her biggest desire is for her son to be a professional. This is why Mercedes works a lot.
With the loan she'll invest in buying more clothing so she can have more income.
Mercedes is seated and has a piece of paper on top of her hand. At the same time she sends a hug to Kiva and to EDAPROSPO. She's grateful for the loan granted because it makes it possible for her to move forward.
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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