El Eden Group
Update on El Eden GroupThe “El Edén” (Eden) communal bank consists of a group of ten enterprising people who are very creative in business. María, 61, is married and has no children. She has had a small store for about 25 years and she’s succeeded in acquiring a regular clientele that has generated profits to cover household expenses.
In future, she’d like to have a space of her own in which to sell her products and to earn higher profits. She will use the granted loan to buy more products for her store to continue meeting customer demand and thus get ahead.
María and all the group members are grateful to Kiva for the loan granted and for the trust that’s been placed. María is first on the right wearing black pants. She takes her leave promising to meet all her stated goals.
el cual le ha generado ganancias para poder cubrir los gastos de su hogar, En el futuro le gustaría tener un local propio donde poder vender sus productos y obtener mayores ganancias económicas. Con el préstamo otorgado lo invertirá en comprar más productos para su bodega y así seguir satisfaciendo las necesidades de sus clientes y así poder salir adelante. A la vez la Sra. María y todos los integrantes se encuentran agradecidos con Kiva por el préstamo otorgado y por la confianza que se les ha sido brindada. La Sra. María es la primera de la mano derecha con pantalón negro, se despide Dejando la promesa que cumplirá todas sus metas propuestas.
Previous Loan DetailsGreetings 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.… 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