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

Update on El Progreso Del Vallecito Group

The group “El Progreso del Vallecito” consists of enterprising young people who want to improve the quality of life for their families.

Amith is 31 years old, in a common-law relationship, and has three children who are in school. He sells vegetables in the mornings with his wife. In the afternoons, he provides motorcycle taxi services. His loan will be invested in vegetables of all varieties so that he can expand his business.

The group is grateful to the Kiva lenders for the loan that has been issued. Amith is the second person standing on the right side.
View original language description ↓
El grupo “EL PROGRESO DEL VALLECITO” se encuentra conformada por socios jóvenes empeñosos en mejorar la calidad de vida de sus familias. Amith tiene 31 años de edad es conviviente con 03 hijos educando. El se dedica a la venta de verduras en horas de la mañana juntamente con su esposa. En horas de la tarde se dedica a prestar servicios de mototaxista. El crédito lo invertirá en la compra de verduras de toda variedad para ampliar su negocio. El grupo agradece a los inversionistas KIVA por el crédito brindado. Amith es la segunda persona parada del lado derecho.

Previous Loan Details

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... 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
  • 33
    View loans »
    Peru Loans Fundraising
  • $55,917,775
    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 $2,025 loan helped a member to buy a variety of vegetables.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 16, 2014
Listed
Jun 7, 2014
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014