The communal bank “Esperanza Para El Futuro” [Hope for the Future] has 11 members, who have been working with the Prosperity Program for 8 months. Favio is the group's treasurer, a position he has filled responsibly. Favio is 31 years old and lives with his 2 dependent children. Favio has a motorcycle taxi with which he offers transportation service. For more than 10 years, he has worked in this business, which allowed him to save and achieve one of his goals. Recently, he bought a car, which brings him higher profits.
With hard work and dedication, Favio has been able to support his family, and they have been his motive to continue moving forward. At this time, he has requested a loan to maintain his car. Favio's wish is to buy another car, so that he can hire it out it for transportation service. The members of the communal bank “Esperanza Para El Futuro” are grateful and promise to continue working hard.
La Alcancía Comunal “Esperanza Para El Futuro” es un grupo conformado por 11 socios, la cual llevan 08 meses trabajando con el Programa-Prosperidad siendo Favio el tesorero del grupo, cargo que ha llevado con responsabilidad. Favio tiene 31 años de edad es conviviente con 02 hijos aún dependientes. El Sr. Favio cuenta con una mototaxi la cual brinda servicio de transporte, lleva trabajando de esta manera hace mas de 10 años, lo que pudo ahorrar con dicho trabajo, y así cumplir una de sus metas, ya que hace poco tiempo se compro un carro la cual le brinda mayores ganancias. Gracias a su arduo trabajo y dedicación Favio ha podido sacar adelante a su familia, pues ellos han sido su motivo para seguir progresando. En esta oportunidad solicito el crédito para el mantenimiento de su carro. El deseo de Favio es de comprarse otro carro, y así alquilarlo como servicio de transporte. La Alcancía Comunal “Esperanza Para El Futuro” están agradecidos y se comprometen a seguir trabajando bien.
EDAPROSPO 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.