Responsabilidad Y Progreso Group
Update on Responsabilidad Y Progreso GroupNancy, age 41, is a widow with five children. Two of them are still dependent upon her. She's been with EDAPROSPO for two years. She sells cakes. Her daughter encouraged her to start and motivated her to set up her own business as an independent person. Nancy also sells food. With her effort and her work, Nancy has managed to build her house and to give her family a better quality of life. She covers the expenses for food, education, clothing, and household services. Her plan for the future is to build a second floor onto her house. She also plans for her children to attend the university.
She is using the loan to buy raw material. Nancy belongs to the Responsibilidad y Progreso communal bank. The bank is comprised of six people, and Nancy is the president. She is the person standing in the group. Nancy is standing with a white jacket, and she is next to the other women.
Previous Loan DetailsNancy is a widow with 5 dependent children. She's been with EDAPROSPO for a year and a half, and she's had a business selling sandals for more than 5 years. She was initially motivated by one of her children, who inspired her to devote herself to this business to make it profitable. With her… More from Responsabilidad Y Progreso Group's previous loan »
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.
Concurrent and Successive Loans
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