Senda De Amor Group
Update on Senda De Amor GroupMaria Concepcion is 43 years old, is a single mother and has 3 daughters and 1 son. She lives in the village of San Nicolas and she is a member and the coordinator of the communal bank Senda de Amor. Doña Maria started off by selling tamales and used clothes and in recent years she has been making and selling doughnuts and cheesecake. She gets up very early in the morning to start her working day. Two of her daughters help her mix all the ingredients while she prepapres the oven. Once the product leaves the oven, a daughter helps her deliver it. She makes a good profit selling her product but when it rains heavily it goes badly for her as the firewood gets wet and it is difficult to get the right temperature for the bread at the right time. She learned her business by watching others do it and she also helped them to gain experince. She needs the loan requested to buy raw materials such as flour, sugar, eggs, baking soda, firewood, etc. With the sale she will be able to continue taking care of her family and will also be able to save a little to use in an emergency. Her dream is to help her daughters to each have her own business and have an honourable way of making a living. Currently FAMA has given courses on Breadmaking and Pastry Making and Doña Maria and the members of her group have benefitted from them. For this reason she is thinking of diversifying her business with products such as pastries and types of bread.
Previous Loan DetailsMaria Concepcion is 43 years old. She is a single mother and has three daughters and one son. She lives in the San Nicolas village and is a member and coordinator of the Senda de Amor (Path of Love) Community Bank. Mrs. Maria started by selling nacatamales and used clothing, and for the past f... More from Senda De Amor Group's previous loan »
About FAMA:Honduras is one of the poorest countries in the Western Hemisphere with approximately 59% of people living below the poverty line. Familia y Medio Ambiente OPDF (FAMA OPDF) is a Honduran non-profit with no religious or political affiliation. FAMA’s mission is to provide quality and opportune financial services so that men and women have equal opportunities to develop their micro or small businesses, whether they focus on agriculture, manufacturing or services. FAMA operates 13 branches throughout Honduras and serves over 12,500 clients.
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
- Repayment Term
- 7 months (Additional Information)
- Repayment Schedule
- Oct 11, 2011
- Nov 7, 2011
- Currency Exchange Loss:
- Mar 16, 2012
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.