"santisima Trinidad" Group
She has been with Edaprospo for three and a half years and has been selling jewelry for five years. Her motivation to get started came from one of her children, who inspired her to go into the business. Through her effort and hard work, she was able to give one of her children a higher education. Currently she is reinvesting her income in her business, while her husband covers all home expenses.
Her plan for the future is to expand her business. She is going to use this loan to invest in it, because sales tend to increase during this season. Patricia belongs to the communal bank “Santísima Trinidad”, which was founded three and a half years ago and comprises seven people. She recently became president of the group.
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