5 De Mayo Group
Update on 5 De Mayo GroupThe new group members are María Manuela who will use the loan to buy chicks to raise and Virginia who will buy pig feed. The other members continue with the activities they’ve been carrying out.
Yecenia, 33, is married; her husband’s a bricklayer. They have three boys, two are in elementary school and the other one hasn’t started school yet. She raises pigs, chickens and calves. She asked for the loan to buy piglets to raise and then sell. She started her business 11 years ago. Her mother raised pigs and that’s where she learned. Her mother gave her her first litter of pigs to raise. Her business is important because it helps her feed, clothe and provide shoes for her family. The challenges she faces are the rising costs of animal feed; corn prices rose. Her business has helped her family because they get food from it, there are chickens to eat, eggs to make into meals. Her dreams and hopes are to build a kitchen and that her children have separate bedrooms, that they have resources to send their children to school, to buy school supplies and uniforms.
The group members want to say to Kiva and to Fundación Realidad: “Many thanks and please keep lending to us so that we can continue advancing. Thanks to you we are able to get ahead and you help us live better with our families.”
Previous Loan DetailsThis group is called “5 de Mayo” and is located in the community of Ocuituco, México. Its members are Isabel who will use the loan to buy cans of peaches, María del Carmen who will buy rice, cheese, oil, paper and bags to prepare fast food snacks, Eufrocina who will buy eggs, sugar, soap and oil... More from 5 De Mayo 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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