Luz De La Esperanza Group
That is Mauro's case. With much effort, he has been able to provide his loved ones with a better quality of life. Mauro started out working as a bus fare collector. He used whatever he managed to save up from work to purchase his own mototaxi, which he currently uses to provide transportation services. He will use this loan for maintenance on his mototaxi. His next goal is to purchase an additional mototaxi. Mauro is thirty years old and married with one dependent child.
Luz De La Esperanza Group is grateful for the loans granted. Mauro is located in the back of the picture. He is wearing a blue vest and a pink polo shirt.
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