El Eden Group
For example, Señora Juana S. is a member of this communal bank. Señora Juana is 38 years old, and is the mother of two children who are still financially dependent. She saw a way of progressing financially through selling food in the mornings, and also is helped by selling vegetables and toys. She has been working in this field with great attention for more than twelve years, and it has given her and her family much satisfaction.
With her recent loan, she will invest in purchasing toys for the upcoming Christmas season.
Like Señora Juana, the rest of the members each have their own story, but they all share the same level of care and accomplishment that they undertake each day for the well-being of their families.
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