Damas Triunfadoras Group
Update on Damas Triunfadoras GroupFavio is 57 year old. He is a widower and has 4 children who are all of age. Favio is a member of the group “Damas Triunfadoras.” He is the only man in the group and this is his third loan cycle. He is happy because being part of the group is a great help to his business. He has been working in the restaurant business for the past 5 years. He has a restaurant where his specialties are fish and sea food. He has regular customers because he always takes great pains to provide them with good service. The loan he requested is for buying sea food products and other ingredients. In the future he wants to buy his own location so he won’t have to pay rent and so he can improve his income. Favio and his group are grateful to the Kiva lenders for the loan that has been granted.
Previous Loan DetailsVilma is a member of the communal bank "Damas Triunfadoras", which is comprised of six members. She is 33 years old, married and has two school-aged children. Vilma and her husband run a family business and they both work to give their children a better education. A few years ago they started ... More from Damas Triunfadoras 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