Maria Elena Moyano Group
Update on Maria Elena Moyano GroupThis is a group made up of 6 responsible women who work in different commercial activities. All of them live in the district of Agustino. These are the members of the “María Elena Moyano” communal bank. One of them is Carmen. She is 54 years old, single and has 4 children. Carmen has worked for 7 years selling sodas and snacks in a small sales spot every day. Carmen tells us that she has earned regular customers and is generating income to cover the household expenses. In the future, she would like to have her own locale where she can sell her products and make more income. With the loan she has been given she will invest in a small store and thus have more income. She gives a hug to Kiva and says she will meet all of the goals she has set.
Previous Loan DetailsGreetings from Peru! Kharym is 26 years old, and would class herself as a strong, brave and very enterprising woman. Kharym belongs to the Maria Elena Moyano group, which is made up of 6 people. Kharym has 1 child and it is for this reason that she fights every day to get ahead in life. The l... More from Maria Elena Moyano 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
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Success!! The loan was 100% repaid