Las Maravillas Group
She has been selling basic needs products for several years. The business arose from the idea of improving her family’s quality of life. With the fruit of her effort, she has been able to support her children’s education and build part of her house. Her next goal is to finish building her house.
She will use her last loan for working capital to buy rice, milk, sugar, noodles, and drinks.
Gregoria, age 49, is married and has one child who is still dependent upon her.
Gregoria and the “Las Maravillas” are happy and grateful to the people who made this loan possible.
Gregoria is the first person standing on the right. She has on a sky blue shirt and a pink vest.
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