La Cabañita Group
Update on La Cabañita GroupSra. Reynalda is 76 years old and a member of the group “La Cabañita”. This name was selected by the group because they meet in a “cabaña” (hut) owned by one of the members in order to submit their loan payments. Reynalda has managed a bakery for more than 15 years. This business provides a source of employment for her and her children. She says that her entire family works in this business. Reynalda is the senior member of the family and even her grandchildren participate in the work. Some make the flour while others are in charge of baking. Other family members sell by driving tricycles in the community and making deliveries to stores. Reynalda says that she wakes up at an early hour in order to make the bread. She receives orders on a daily basis and then returns home in the evenings in time for dinner. Reynalda says that her business produces a wide variety of products such as croissants, sweet breads, empanadas, sweet rolls, sandwich buns, sponge cakes, ciabatta bread, cream puffs, and many other items. She is requesting a loan from the microfinance institution so that she can buy materials at wholesale such as flour, sugar, milk, eggs, flavorings, firewood, and gas in order to make her delicious breads. Sra. Reynalda’s goal is to continue expanding her business so that her bread becomes well-known in different communities.
The other 14 women are Consuelo, Leticia, Ma. del Rosario, Florentina, Maribel, Tomasa, Elvia, Blanca Estela, Marisela, Martha, Isabel, Liliana, Sofía, and Gabriela. They will invest their loans in a print shop, selling fruits and legumes, selling shoes through catalogs, selling perfumes, a candy shop, a grocery store, selling jewelry, an auto repair shop, and a food stand. All of them are extremely grateful to the microfinance institution for this loan so that they can better stock their businesses and have better earnings. This will enable them to provide their families a better quality of life.
Las otras 14 señoras se llaman Consuelo, Leticia, Ma. del Rosario, Florentina, Maribel, Tomasa, Elvia, Blanca Estela, Marisela, Matha, Isabel, Liliana Sofía y Gabriela las cuales su crédito lo invertirán en un taller de serigrafía, venta de frutas y legumbres, venta de zapatos por catalogo, perfumería, dulcería, abarrotes, bisutería, taller mecánico y una pillería, todos ellos están muy agradecidos con la financiera por el crédito que les harán por que así sus negocios estarán mejor surtidos y tendrán mejores ganancias con las cuales podrán darles a sus familias una mejor calidad de vida.
Previous Loan DetailsBlanca is a member of the “La Cabañita” group. The members gave the group this name because the place where the group meets is in a cabin belonging to one of the members. Blanca is 36 years old and married to Faustino. They have three children: a young girl of 17 who is in senior high school… More from La Cabañita 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