Las Palmeras Group
Update on Las Palmeras GroupHerminia, 57, is married with 5 independent children and belongs to the "Las Palmeras" group, which is made up of 5 hardworking, dedicated women who work in different business activities. Herminia makes her living buying and selling clothing, which she does by orders. She feels happy; thanks to her work, she has improved her home.
The loan that she is applying for will be used for the purchase of clothing like sweaters, pants, polo shirts and blouses. Her greatest desire is to open a place of business where she can offer her products. The "Las Palmeras" community bank thanks the Kiva investors for supporting their progress. Herminia is the second woman on the left side wearing a cream colored blouse.
Previous Loan DetailsThe community bank "Las Palmeras" (The Palm Trees) is located in Zone R. D. Huaycán in the province of Lima. It is composed of 13 members who make a living as small storekeepers. They have been co-operating with the microfinance institution Edaprospo-Prosperidad for five years.
Gladis S., e... More from Las Palmeras 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
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Success!! The loan was 100% repaid