Mujeres Al Progreso Group
Update on Mujeres Al Progreso GroupThe Mujeres al Progreso group is comprised of eight male and female members who are very happy to be in their fourth cycle.
Andrea is forty-five years old, and is single with two children. For several years she has had a restaurant that she runs in part of her home; she offers both breakfast and lunch. At the same time, she also sells beauty products. Her greatest dream is to provide beer and carbonated beverages at the restaurant.
She will invest the loan in the purchase of supplies, including chicken, green vegetables, root vegetables, rice, and oil.
The entire group is grateful to the Kiva investors and for the loan. Andrea is the individual pictured in the upper right hand corner; she could not be present at this particular group meeting.
Previous Loan DetailsThe Mujeres Al Progreso group is comprised of nine members who are in their third cycle. These members are responsible with their group payments. Vanessa, age 25, is in a common-law marriage and has two children, ages six and three. She sells clothes by order to her customers. She has been… More from Mujeres Al Progreso 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