Mujeres Buscando Un Futuro Group
Edith sells beauty products. She started this business 15 years ago and is happy about all she has achieved. She has many customers and her earnings allow her to support her family. Her customers are mainly women. This time, she wants to invest her loan in the purchase of beauty products. The Christmas season is a very good time for sales and she wants to take full advantage.
Edith and her communal bank are are grateful for the loan granted. In the picture, she is the third from the left and is wearing a blue 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