Madre Teresa De Calcuta Group
Update on Madre Teresa De Calcuta GroupThe "Madre Teresa de Calcuta" communal bank is comprised of five members who are in their second cycle. Raquel, 47, is separated and has three children, two of whom are dependent. In the hopes of improving her economic situation, which supports her household expenses, Raquel started her business three years ago. She makes buffets for events such as baptisms, weddings, and birthdays.
Her current loan will be used to buy supplies such as rice, sugar, milk, and flour so she can make her food. She hopes to improve her business. The "Madre Teresa de Calcuta" communal bank is grateful to the people who make this loan possible. In the photo, Raquel is the first one on the right, wearing a flowered blouse and black pants.
Previous Loan DetailsThe new communal bank “Madre Teresa De Calcuta” is made up of 6 members who are enthusiastic about starting to work together. Liliana, 40, is married and has 5 school-aged children. She currently has a business selling pizza, which she's had for more than 6 months. She started up the business… More from Madre Teresa De Calcuta 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