Amigas Con Proyectos Especiales Group
She started with the idea of building her house and improving her lifestyle. Through her effort and work she managed to give her two children an education.
Her income currently goes to covering the water, electricity, and cable expenses. Her husband covers the food expenses.
Her plan for the future is to open a new business that is a lot more spacious, and the business will be in her own house.
She used the loan to buy merchandise for her business. At this time her sales tend to increase because of the national holidays.
Iris belongs to the Amigas con Proyectos Especiales communal bank. The bank is comprised of six people. She has been the president ever since the group was formed.
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