La Presa Group
Update on La Presa GroupSocorro is 63 years old and married. Her husband milks cows. They have ten grown children, seven women and three men.
She has a grocery store. She requested her loan to buy oil, soap, beans, sugar, eggs, toilet paper, bleach, coffee, rice, hot sauce, and jalapeño chilies, etc. She started her business six years ago. She started buying a small amount, and she gradually increased what she bought.
Her business is important because she benefits from not worrying about food. She likes this business; it serves as a distraction. She is content waiting on her customers, and she is proud that through her business she was able to get her children ahead. It helped them attend high school.
Her store is popular due to the good prices of her merchandise. She uses the income to continue investing and to pay the loan. She is pleased with the loan received. It saves her from difficulties, and it helps her to continue buying merchandise to sell.
Her dreams and hopes are for her store to grow, to have the store well-stocked, and to be able to help her children. The members of the group want to tell Kiva and the Fundación Realidad, “Thank you for your help. With the loans we are able to continue making progress and we hope that all is well so that you will continue supporting us with the loans.”
Previous Loan DetailsThis communal bank is called “La Presa” (The Dam) and is located in Palo Blanco in the Mexican state of Morelos. Its members are Daniela who will buy perfume, creams, makeup, lipsticks, etc., Agustina, who will buy net-like cloth to fish tilapia, Socorro who will buy oil, sugar, toilet paper, so... More from La Presa Group's previous loan »
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