One of these women is Victoria. She is 40 years old, is in a civil union and is the mother of three children. One of them is an adult and two of them are under her care. Victoria works cleaning chickens in business that sells poultry. She has been working there for four years.
With this last loan she wants to realize her goal of making a living raising pigs by buying young ones and animal feed. Raising these animals is very hard, but it is the work that Victoria wants to do on a daily basis. She wanted to start the business when she was given two small piglets and shown how to work with them.
She wants to be able to pay for her oldest child's studies with this business.
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