Mujeres Emprendedoras De Micaela Bastidas Group
Update on Mujeres Emprendedoras De Micaela Bastidas GroupThis group is made up of seven responsible members who have different types of businesses. They all live in the Vitarte district and the communal bank is called "Mujeres Emprendedoras de Micaela Bastida". One member is 54 year old Teresa. She is single and has four children. For 26 years Teresa has made a living selling vegetables (groceries, potatoes, corn-on-the-cob, onions and more). Teresa goes out every day to a small market with the hope of moving forward in life and being able to pay for her children's school costs and to pay the bills at home. Her biggest dream is that her children become professionals so, for this, Teresa works a lot. With this loan, Teresa will buy more vegetables and so have a higher income. In the photo, Teresa is sitting down - she is the first on the left. Teresa sends hugs to Kiva and promises to achieve all her goals.
Previous Loan DetailsThis is the communal bank “MUJERES EMPRENDEDORAS DE MICAELA BASTIDAS” (Micaela Bastidas’ Entrepreneurial Women). It’s a group consisting of 7 members known for their determination and persistence in life, to accomplish their goals. Silvia is the woman who appears on the left side of the photo we... More from Mujeres Emprendedoras De Micaela Bastidas 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