Lazos Unidos Y Rumbos Distintos Group
Corina is 37 years old, married, and has no children. She provides a sewing service, and has been in this line of work for a long time. She had to work a lot to improve her business. What she was able to save with her work went towards the purchase of a sewing machine.
She also offers beauty products, for which she takes orders, and she makes some extra money for her family from that. The money she requested will be invested in her sewing business by buying fabric, scissors, ribbon, etc. In the future her objective is to set up a boutique where she can sell garments that she herself made. Corina is grateful for the loan granted to her.
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