Greetings from Perú! The group Jóvenes Exitosos (Successful Young People) is made up of 7 people, the majority men, all working at various jobs; its only woman member is Johanna, who is the secretary of the group. She is 23 years old and is a single mother with a small daughter; she works selling beauty products by catalog. She began this work with the help of her mother who does the same work. She has been working with this business for around 2 years, offering different products to her customers, of whom the majority are friends from her neighborhood and relatives. On the other hand, her work is of great help to her because in this way she can pay for her daughter’s expenses.
With the aim of continuing to improve her business, she has requested a loan from EDAPROSPO, which she will use for the purchase of products like perfumes, lotions, jewelry and makeup. In the future, she hopes to have her own place where she can sell her products directly. Johanna is grateful to the KIVA investors who support her as well as the members of her group.
¡Saludos desde Perú! El grupo Jóvenes Exitosos está conformado por 07 personas, en su mayoría varones todos dedicados a diversos oficios; su única integrante mujer es Johanna que es la secretaria del grupo. Ella tiene 23 años es madre soltera con un hija pequeña, el trabajo al que se dedica es la venta de productos de belleza por catalogo, empezó este trabajo con la ayuda de su madre que se dedica a lo mismo, son cerca de 2 años que trabaja con este negocio, ofreciendo diferentes productos a sus clientas; que en su mayoría amigas de su barrio y familiares. Por otro lado su trabajo es de mucha ayuda para ella porque así puede solventar sus gastos de su hija. Con el fin de seguir mejorando su negocio ha solicitado a EDAPROSPO un nuevo préstamo que le servirá para la compra de productos como perfumes, lociones, joyería y maquillaje, en el futuro desea contar con un lugar propio donde pueda vender sus productos directamente. Johanna esta agradecida a los inversionistas KIVA que la apoyan tanto a ella como a los integrantes de su grupo.
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.