Las Triunfadoras De La Ensenada Group
The loan he is requesting will be invested in purchasing merchandise for his business.
Luis' greatest desire is to expand his general store and stock it with a variety of products in order to obtain a better income.
The group is grateful to Kiva investors for this loan. Luis may be seen in the photo seated on the left wearing a lead-colored jacket. The photo of the group was taken in 2 locations, one part in the office and the other in the members' locality.
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