Micaela Bastida Ii Group
Update on Micaela Bastida Ii GroupThis communal group, "Micaela Bastida II" is made up of nine enterprising people who bring a lot of creativity to their businesses. The featured borrower is Demesia. She is fifty-three years old, is married, and has five children. She has been making a living selling food during both the day and night for seven years. Demesia has built up a loyal customer base, allowing her to generate better profits in order to cover home expenses.
In the future, she would like to have her own stall where she could sell her foods and obtain even better economic profits. With the requested loan, she will invest in founding her business premises, which will allow her to move herself ahead.
Demesia and all the group members are grateful to Kiva. In the photo, Demesia is in the green sweater. She would like to close her message in saying that she will keep her promise to work towards all of her proposed goals.
Previous Loan DetailsThe community group “Micaela Bastida II” is made up of eight women entrepreneurs with a lot of creativity for business. Toribia is 39 years old, married, and has four children. She has worked for three years recycling paper. Toribia tells us that with a lot of hard work and the help of her husban... More from Micaela Bastida Ii 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