Update on Libertadores GroupGreetings from Peru! I present to you a loan group comprised of 10 members who have great business initiative. This how is the community group Libertadores can be described. One of the members is 52 year old Ana, mother of 3 children who are her main motivation to succeed every day. Ana has been selling vegetables for a long time and she sells them in the little market. In this way, she can get ahead and prosper as a small-businesswoman. She will use the loan to buy vegetables such as potatoes, lettuces, and other tubers and she will sell them later. Ana is very happy with the loan awarded to her and the interest that is offered and the confidence that has been placed in her. She makes a promise to continue overcoming difficulties to improve the quality of life for her and for her family.
Previous Loan DetailsGreetings from Peru. I would like to introduce you to the Libertadores Group which is made up of people who wish to get on in life. They are all neighbours and have chosen to name the group after the place where they live. Currently there are nine members and they work in various occupations such... More from Libertadores 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