Pedro, 45, has four children. He and his partner work in carpentry, which they have done for 24 years. This work has allowed him to support his family and cover the main necessities for his children and give them an education.
Pedro is part of the Los Girasoles group, which is comprised of eight members—both men and women. He joined this group to get loans to finish his furniture orders. This loan will go toward buying wood, glue, nails, and paint.
PEDRO, tiene 45 años de edad, tiene 4 hijos y junto a su pareja trabajan en su carpintería, actividad que realizan desde hace mas de 24 años. Éste actividad le ha permitido mantener a su familia, cubriendo las necesidades principales de sus hijos y brindarles estudios.
Pedro forma parte del grupo "Los Girasoles", formado por 8 socios entre hombres y mujeres. Ingresó a éste grupo para poder obtener prestamos para poder cumplir con pedidos de muebles, por lo que el préstamo recibido lo invertirá en la compra de madera, pegamentos, clavos y pintura.
EDAPROSPO 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.