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Union Progreso Group
In this Group: Maria Lourdes, Maria Felicita, Editha Mery, Cecilia, Lucy Rosmery, Carmen Rosa, Maria Cecilia, Carole Maribel, Eyda Constantina, Mariela Soledad, Milagros

Update on Union Progreso Group

The “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.
View original language description ↓
El grupo “UNION PROGRESO” está conformada por socias trabajadoras y empeñosas. Dedicadas al comercio minorista. Carole tiene 33 años de edad es conviviente con 02 hijos dependientes. Ella se dedica la venta de comida rápida hace 04 meses por iniciativa propio. Y a la vez vende ropa. El crédito lo invertirá en la compra de sillas y mesas de plástico. El grupo agradece a los inversionistas KIVA por el crédito brindado. Carole es la que tiene a su bebe en brazos

Previous Loan Details

The “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 »

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.

About Peru

  • $6,715
    Average annual income
  • 82
    View loans »
    Peru Loans Fundraising
  • $55,191,575
    Funds lent in using Kiva
  • 2.8
    Peru Nuevos Soles (PEN) = $1 USD

Success!! The loan was 100% repaid

A portion of Union Progreso Group's $6,500 loan helped a member to buy chairs and tables.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 18, 2014
Listed
Jul 31, 2014
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2015