Union Progreso Group
Update on Union Progreso GroupThe “UNION PROGRESO” communal bank is made up of hard-working, determined members who work in retail businesses. Carole is 33 years old and lives with her two dependent children.
Thanks to her own initiative, she has been selling fast food for the past four months. She also sells clothing. She will use the money from the loan to buy plastic tables and chairs. The group is grateful to the KIVA investors for the loan they are granting. Carole is the one pictured with her baby in her arms.
Previous Loan DetailsThe “UNION PROGRESO” communal bank is composed of hard-working and persevering women. Eyda is 65 years old and is a widow. For the past 5 years she has had a store in her house. She also has been selling clothing by request for many years. She will invest the loan in buying more rice, sugar, oil... More from Union Progreso 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