Las Divinas De La Union Group
Update on Las Divinas De La Union GroupThe "Divinas de la Union" (Divine Ones of the Union) are synonymous with perseverance; they are a group of optimistic and strong-spirited men and women. This group has been together for 2 years and has 6 members who are all fine examples of hard-working people. The level of trust among the group has grown not only because of the time they have spent together as a group, but also because they are neighbors. We would love to be able to tell you about each of the members but we would run out of space. However, we will just mention Lourdes - a 40 year old member, wife and mother of 2 children. She starts work each day selling in her shop, and in the afternoons she sells 'salchipapas' (a dish of sliced frankfurter and chips), which has brought her much economic reward for the last 8 years and allowed her to save her money for household expenses and her children's education at school. She will invest this current loan in improving her business and its implementation. The "Divinas de la Union" are a group of women who, with great care and dedication, know how to succeed with each passing day.
Previous Loan DetailsThe communal bank Las Divinas de la Unión is made up of several enterprising, hardworking and united women. The group consists of 8 people, men and women who excel, each with their own story. One of them in particular is Señora Maribel who is 41 years of age and single. From a young age she lived… More from Las Divinas De La Union Group's previous loan »
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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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