"Santa Rosa de Lima" communal bank is a group full of energy that comprises eight members. They are in their fifth cycle of loans with the field partner. Jaqueline, one of the members, was elected treasurer by the others. She is 39, married, and has two children, who are still in her care. Seeing that her spouse's income, earned as a mason, was not enough to cover household expenses, she decided to start her own business, a grocery shop, where she sells basic products. She also sells alfalfa seeds as a way to earn a little more money. She will use the loan in order to buy supplies for her shop, such as groceries, drinks, and sweets. She is happy for the opportunity and thanks the people who made this loan possible. On the photo, Jaqueline is the second person from the right in the back row, wearing light blue trousers and a red shirt.
La Alcancía Comunal “Santa Rosa De Lima” es un grupo dinámico la cual está conformada por 08 socios, dicho grupo pasan su 5to ciclo. Siendo Jaqueline una de las socias, ella lleva el cargo de tesorera, la cual fue elegida por sus compañeros. Jaqueline tiene 39 años, casada con 02 hijos aún dependientes. Viendo que los ingresos de su esposo como albañil no alcanzaban para cubrir con los gastos del hogar, decide iniciar su propio negocio, donde actualmente cuenta con una bodega, brindando productos de primera necesidad. Aparte se dedica a la venta siembra de alfalfa de donde obtiene un ingreso extra. El crédito solicitado lo destinará para la compra de productos como abarrotes, bebidas y golosinas. Se siente feliz y agradece a las personas que hicieron posible este crédito. Jaqueline se encuentra ubicada en la parte posterior es la segunda del lado derecho, viste chompa roja y pantalón celeste.
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.