Aguilas Unidas Group
Gloria, age 53, has four children. She has been selling knitted goods (sweaters, pullovers, and scarves) for 20 years. Gloria has come to have loyal customers, which has generated income for her to be able to cover the household expenses. In the future she would like to have her own place where she would be able to sell her knitted goods. This way she would get greater earnings. She will use the loan that was granted to buy more wool. This way she will be able to have more orders for knitted garments and be able to get ahead.
Gloria and all of the members are grateful to Kiva and EDAPROSPO for the loan that was granted and for the trust that has been placed in them. Gloria is the first one seated on the left. She has on a red shirt and a black jacket. She says goodbye by leaving the promise that she will meet all of her proposed goals.
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