Virgen De Guadalupe De Santa Clara Group
Iris is 47 years old, has two children, one of whom is married already. She sells food every day in the mornings and in the afternoons she cares for her younger child. She started this business because her mother also works at the same business. With hard work she has been able to contribute financially to her household so they can continue getting ahead.
She is requesting this loan to improve her business and purchase merchandise since the Christmas season is approaching.
Just like Iris, each member of this community bank fights to get ahead, and with great effort and dedication they are achieving it every day for their own well-being and that 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