She helps her husband with the household expenses and their children’s’ school fees. Her greatest dream is to have her own house. She knows that with much hard work, she can achieve this soon.
She will use her loan to buy beauty products. This season is a good time to invest because many people look for gifts for their family members and friends. She is a member of the “Satelital” group, which is made up of 7 members, the majority f whom are friends from the same neighborhood.
*Verónica is the first one in the photo, wearing jeans and a black shirt.
* Veronica es la 1ra de la foto viste jean y polo negro.
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