Madres Laboriosas Group
Update on Madres Laboriosas GroupThis is the “Madres Laboriosas” group, made up of 10 responsible members who have not had any problems making their payments.
Mirtha is 58 years old, separated, and has 3 children, two of whom she is currently supporting. Mirtha sells beauty products, and as a secondary occupation, she provides kitchen services, earning extra income for her home. She feels happy, because thanks to her efforts, she continues improving every day.
The loan she requested is earmarked for the purchase of creams, perfumes, powders and such that she must offer to her customers. Mirtha´s desire is to see her children become fulfilled professionally.
The communal bank, “Madres Laboriosas” is grateful for the support they have been given. Mirtha is seen seated first from the right, wearing a white blouse.
Previous Loan DetailsThe “Madres Laboriosas” communal bank is made up of 12 active and responsible members who have been improving over time. Gilseia, one of the members, is 48, separated, and has 3 dependent children. Upon seeing that her income wasn't enough to cover the household expenses, Gilseia decided to start… More from Madres Laboriosas 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