Florecitas De Villa Hermosa Group
For ten years, Virginia has been making a living by selling beauty care products. She started this business by first selling door-to-door in small quantities and with time was able to save up some capital that allowed her to set up a storefront in her home where she now sells a variety of beauty care products of different brands. Thanks to her efforts and dedication, she has been able to improve her income, and now her children go to a good school, and, most importantly, have a better quality of life. Virginia will use the loan to buy merchandise for her business. She will work hard to achieve her goals and this loan from Edaprospo will help her in this effort.
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