Jesús Pan De Vida Group
She sells beauty products, and also buys and sells products such as nougats, cookies, cakes, and other items. Thanks to her work she has improved the quality of life for her and her family.
She also says that six months ago, she started a new business that she set up in her home. It is a small general store, where she sells basic household necessities. This is the way Carmen has helped with the household expenses.
In the future, Carmen would like to finish building the third floor of her house, as she has plans to rent it. On this occasion, she applied for he loan in order to buy milk, sugar, rice, and toys to sell during the Christmas holidays.
The members of the "Jesús Pan de Vida" communal bank are grateful, and promise to continue working well with Programa Prosperidad.
Melina and Janet could not be present at the disbursement meeting due to work reasons.
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