Emprendiendo Hacia El Éxito Group
Update on Emprendiendo Hacia El Éxito GroupThe communal bank "Emprendiedno Hacia el Exito" is made up of eleven responsible members who are involved in various businesses. They all live in the district of Vitarte.
One of the members is Elida, who is a 27-year-old single mother of three children. For the past year she has had a business selling juice in a small market. She works every day with the aim of getting ahead and being able to pay tuition for her children and cover the household expenses. Her greatest dream is for her children to become professionals; it is for this reason that she works hard.
She will invest the loan proceeds in supplies for her juice business, such as fruit, plates, utensils and glasses, which will lead to increased income.
In the photo she is standing second from the left, and she is holding her baby, who has a plastic bottle. She wishes to thank Kiva and says that she will make her all of her loan repayments on time.
Previous Loan DetailsGreetings from the ‘Emprendiendo hacia el Éxito’ Group! The group has eight members who are known for their cheerfulness and hard work. Señorita Susan is one of the members. She is 24 years old, single, and more than anything else, very hardworking. She runs a hardware store which provides th... More from Emprendiendo Hacia El Éxito 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