La Cruz De Yerbateros Group
Update on La Cruz De Yerbateros GroupThe "LA CRUZ DE YERBATEROS" community bank has 9 members who operate small businesses of various kinds. Milagros, 26, is one of the bank's members. She and her partner have 1 child. Milagros has operated a shoes (sneakers) sales business for 1 year. She operates the business in a small shop and sells shoes for both men and women. She works hard to generate the extra income her family needs and has used her earnings to make improvements to both her business and her house. Milagros will use this loan to stock her shoes sales business so that she can continue to build her business and provide for her family. In the photo, Milagros is sitting at the table, wearing a gray sweatshirt. She asked that we send her thanks and good wishes to Kiva lenders and Edaprospo for extending this loan and helping her to get ahead.
Previous Loan DetailsThe communal group “LA CRUZ DE YERBATEROS” is formed by 11 entrepreneurial members with a lot of creativity in business. Mariana is 43 years old and has two children. She has had a small business selling beauty products for five years. She has gathered a group of loyal customers, thus generating ... More from La Cruz De Yerbateros 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