Sembrando Esperanza Group
Ynes requested this loan to invest in her business, buying fruit such as prickly pear, avocados and custard apples, so that she has enough to offer her customers. In the future, Ynes would like to hire some premises in a central location where she can sell her fruit.
Ynes is a member of the 'Sembrando Esperanza' (Sowing Hope) community bank. This group is comprised of seven hard-working women who pledge to work well within the Prosperidad (Prosperity) program. They are very grateful for the help they have been offered because it will enable them to make progress.
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