Las Estrellitas Group
Update on Las Estrellitas GroupThe members of the "Las Estrellitas" group are very happy to be going through their second loan cycle. Raquel is 30 years old, married and is bringing up three children. She has been making a living selling beauty products for three years. This has allowed her to improve her family's quality of life, and the work also keeps her busy. At the weekend Raquel does maintenance work. Raquel will invest this loan in beauty products which are on offer. She can then sell them at a higher price and earn higher profits. Raquel's biggest wish is to have her own house. The group is grateful to Kiva lenders for this loan. In the photo, Raquel is the third person on the left, wearing a black jumper.
Previous Loan DetailsAurora is 44 years old, is single, and has two children in school. She is a member of the new group "Las estrellitas" (little stars), which is made up of 7 hard-working and entrepreneurial members. Aurora has dedicated herself for the past 31 years to caring for people in their old age. From th... More from Las Estrellitas 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