Las Flores De Buenos Aires Group
Paula is 64 years old, widowed and has 8 independent children. She is a vegetable and tuber street vendor; she’s had the business for more than 20 years. Paula is a very hardworking woman and she’s proud of that because she’s been able to provide education for her children through her efforts. Her greatest wish is to have a locale of her own where she can sell her products.
Aiming at continuing improving her business, she asked for the loan to buy potatoes, onions, tomatoes and vegetables in order to have something to offer her customers.
The new “Las Flores de Buenos Aires” communal bank are grateful for the loan granted.
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