Los Angeles De Vitarte Group
Update on Los Angeles De Vitarte GroupGreetings from Peru.
A group of 10 responsible and enterprising women make up the Communal Bank “Los Ángeles de Vitarte”. One of these women is Sra. Reyna. She is 41 years old, married, and has three children. For the past five years, she has been selling shoes from the small shop where she works every day. This enables her to move forward and pay for the educational expenses of her children.
Through her efforts, Sra. Reyna has been able to make improvements to her home and help her children get ahead. Her greatest wish is to see her children become professionals. For this reason, Sra. Reyna works hard. The loan she received will be invested in the purchase of more shoes that she will eventually resell. As a result, she will have more income.
Sra. Reyna would like to give a big hug to Kiva and express her appreciation for the loan that has been given to her. This makes it possible for her and her family to make progress.
Previous Loan DetailsHello to everyone from Peru. The group “Los Angeles de Vitarte” (The angels of Vitarte) is comprised of 10 members. Most members work in the retail trade to improve their families lifestlyle. One of the members, Sara, is 48 years old, married, and a mother to 5 children. She works daily to the… More from Los Angeles De Vitarte 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