Esfuerzo Vecinal Group
One of the women is Sherley, 30. She's single and has two children. Every day for three years Sherley has worked selling clothing for both women and men in a small shop so she can get ahead and have another income. With the fruit of her effort she has managed to improve her home, her children's education, and her business.
She'll invest the loan in buying more clothing to have more income.
Sherley's in the middle of the group, wearing a yellow polo shirt. She signs off with a hug for Kiva. She's grateful for the loan granted because it makes it possible for her to progress.
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