Los Angeles Group
Update on Los Angeles GroupThe group “Los Ángeles” (The Angels) is made up of 14 responsible and dynamic members. Isabel is 57 years old. She is a widow with two independent children.
Isabel has a small stand which offers candy and food. Her main customers are neighbors from her area. She feels glad because through her efforts, she has been able to improve her home and maintain her business.
Her most recent loan will be used for the purchase of candy and drinks. Her greatest wish is to complete the construction of her home. The group “Los Ángeles” is grateful to the Kiva lenders for the help they have offered.
Isabel is in the back, fourth from the left, wearing a sky-blue blouse. In the top part on the right is Charlie, who wasn’t able to come on time because of work.
Previous Loan DetailsThe "Los Angeles" group consists of 14 responsible members who are starting their 10th loan cycle. Each one of the members makes a living in various commercial activities. Ana is 42 years old, single and has been a housewife since she was very young. She currently is starting a sandals business a... More from Los Angeles 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