The members of the "Nuevo Amanecer de Callahuanca" group are very happy to be on their fourth loan cycle. Marina is 61 years old, married, and has five grown-up, independent children. Marina makes a living growing avocados and custard apples alongside her husband. The couples sells their fruits at the fruit market and in their home, where they also sell sweets and fizzy drinks. Marina's biggest wish is to open her own restaurant. Marina will use this loan to buy fertilisers to improve the quality of her crops. The "Nuevo Amanecer de Callahuanca" group thanks Kiva lenders for this loan. In the photo, Marina is the first on the left.
Los socios (as) del grupo “NUEVO AMANECER DE CALLAHUANCA” se encuentran muy contentos por encontrarse pasando el 04 ciclo. Marina tiene 61 años es casada con 05 hijos independientes. Ella se dedica al cultivo de palta y chirimoya juntamente con su esposo. Las frutas que producen los venden al mercado de frutas y en su vivienda en donde a la vez vende gaseosas y golosinas. Su mayor deseo es abrir su bodega restauran. El préstamo lo invertirá en la compra de fertilizantes para mejorar la calidad de sus cultivos. El grupo agradece a los inversionistas KIVA por el préstamo brindado. Marina es la primera del lado izquierdo.
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.