Las Emprendedoras De Santa Eulalia Group
Update on Las Emprendedoras De Santa Eulalia GroupThe members of the “Las Emprendedoras de Santa Eulalia” group are very happy to be going through the second loan cycle, since working in a group is a new experience for them.
Luz is the president of the group. She is 42 years old and she lives with her partner and her 3 dependent children. She has a family business which consists in buying and selling recyclable materials such as disposable bottles, paper, iron, copper, bronze, and aluminum. She feels satisfied because her business has now improved.
Luz’s goal is to get a place where she can store her recyclables. She will invest the loan in the purchase of more recyclable materials such as iron, aluminum, and paper.
The group thanks the Kiva lenders for the loan that they have given. Luz is seen wearing the sweater with orange, yellow, and green stripes.
Previous Loan DetailsLas Emprendedoras de Santa Eulalia is a new group comprising six members who work in different retail businesses. Luz is 42 years old, lives with her partner, and is raising three children. She has been working buying and selling recycling materials such as disposable bottles, paper, iron,copper,... More from Las Emprendedoras De Santa Eulalia 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