Sol De Vitarte Group
Update on Sol De Vitarte GroupGreetings from Peru! Sol de Vitarte (Sun of Vitarte) is a group formed by seven responsible woman from the district of Ate Vitarte who all come from different business backgrounds. One of these ladies is Sidney who is 26 years old, single, and has no children. She studies Information Technology at the University, and she is working hard to reach her goals in life.
Sidney's goal is to finish her degree, and with it, be successful in life. She has applied for a new loan to pay her tuition fees, so she will be able to accomplish her goals with lots of effort and hard work. She is thankful for the help that Kiva has given her, and she is certain she will end of fulfilling her goals.
Previous Loan DetailsGreetings from Peru. Let me introduce you to an enthusiastic group with great desires to get ahead with their businesses. This is how the "Sol de Vitarte" group could be characterised. This group is made up of 7 members who fight daily to reach their goals. One example is Blanca, who is 44 ye... More from Sol De Vitarte 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