El Eden Group
Update on El Eden GroupGreetings from Peru! Our group is made up 10 enterprising people who have a lot of creativity when it comes to doing business. We are members of the group "El Eden." Rosa is 67 years old, single, and has three children. For the last eight years, she has been selling sodas, candy, milk, and sugar. Rosa says that she has managed to build up a loyal client base which has generated profits which she has used to pay household expenses. In the future, she would like to have her own premises to sell her products from to be able to make more money. She will invest the loan she has requested in setting up a small grocery store so that she can get ahead. Rosa and all of the members of her group are grateful to Kiva and Edaprospo for the loan and for putting their trust in them. She bids you farewell promising that she will fulfill all of the goals she has set for herself.
Previous Loan DetailsGreetings from Peru! The group “El Eden” is made up of 10 people who are characterized as being persevering, fighters and in that way they move forward with all their projects. Maritza is the woman that is effusively hugging her colleagues and is wearing a fuchsia sweater. She is 42 years old a... More from El Eden 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