Santa Maria Group
Jacinta Juana is the president. She is 47, a single mother, and has two school age children. She has had a grocery store for seven years. She sells basic need foods like bread, eggs, milk, sugar, rice, and soft drinks among other things. Jacinta got into this business because her husband left her with all of the expenses, she did not have help from anyone, and her two children were young. Also, on the week-ends she sells “anticuchos” (a dish maD. with lamb's heart) and “panchitos” (hot dogs) in the areas surrounding her house.
The members of this group devote themselves to activities like being a cook’s assistant, providing bricklaying services, and being a public transportation driver. Others in the group sell food and refreshments in the markets.
The members decided on the name Santa María because the place where they live has that name, and they felt more recognizable with that name. All of the members will use the new loan to invest in expanding their small businesses. This way they will have a better quality of life.
The members are very happy with and value the support provided. They pledge to return the loan punctually.
Nuestros socios decidieron el nombre D. Santa María ya que en el lugar donD. viven tiene dicho nombre y se sienten más identificados con él, con su reciente préstamo todos los socios lo invertirán para ampliar su pequeño negocio y con ello tener una mejor calidad D. vida.
Los socios están muy contentos y valoran el apoyo brindado y se comprometen a la devolución del préstamo en el plazo determinado.
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