La Union Hace La Fuerza Group
With the idea of getting ahead and earning better income, she took pastry making courses. With what she learned she now takes orders from customers for all sorts of pastries including cakes, pies, and other sorts of desserts. Vilma's dream is to have a boutique where she can offer all types of clothes.
With the money from the loan she will invest in her grocery store, buying sugar, milk, noodles, rice, and sweets. Vilma is a member of the communal bank "La Unión hace la Fuerza" group that was started by seven responsible and committed people with the Prosperity Program. Vilma is wearing a white scarf and a beige jacket.
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