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El Progreso Del Vallecito Group
In this Group: Ana Melva, Donatilda, Dante Nicanor, Ignacia Jesus, Luis, Yonel

Update on El Progreso Del Vallecito Group

El Progreso del Vallecito Group has six members, who are service providers and merchants. Luis, 25, is single and has been driving a taxi for three years. He worked for years in construction, and his great dream is to have a taxi service line. He will use this loan to maintain his taxi. The group thanks Kiva lenders for the financing. Luis is the first person standing on the right side.
View original language description ↓
El grupo “EL PROGRESO DEL VALLECITO” esta conformador por 06 socios y socias quienes se dedican a brindar servicios y al comercio. Luis tiene 25 años es soltero quien hace 03 años se dedica al servicios de mototaxista. Años trabajaba como ayudar de construcción. Su mayor deseo es tener una línea de servicios de mototaxi. El préstamo lo invertirá en el mantenimiento de su mototaxi. El grupo agradece a los inversionistas KIVA por el préstamo brindado. Luis es el primera persona parada del lado izquierdo.

Previous Loan Details

El Progreso del Vallecito Group is made up of six hardworking members who are responsible with their group loan payments. They're happy to be in their sixth loan cycle. Ana, 37, is the president of the group. She has a live-in partner and four dependent children. Ana has a small grocery store… More from El Progreso Del Vallecito Group's previous loan »

Additional Information

About EDAPROSPO

EDAPROSPO 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.

Tags

About Peru

  • $6,715
    Average annual income
  • 75
    View loans »
    Peru Loans Fundraising
  • $54,535,100
    Funds lent in using Kiva
  • 2.8
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A portion of El Progreso Del Vallecito Group's $2,225 loan helped a member to maintain his taxi.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 14, 2013
Listed
Nov 28, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014