Las Malinches Group
Update on Las Malinches GroupGenoveva is 48 years old, has a partner and 4 children, 2 boys and 2 girls. Two of her children are studying in the CBTA and one boy is in primary school. She sells seasonal fruit such as avocadoes and peaches. She requested her loan to buy peach plants and fertilizer for her crops. She started her business, an inheritance from her father-in-law, one year ago. Her husband taught her how to cultivate the plants, which they bought with a loan.
Her business is important because it generates funds for food and to continue working. She sells her products in the plaza and at her community’s market. Her children and husband assist her with her business. She uses her earnings to buy plants, bags and fertilizer. Her dreams and hopes are to continue working, to have more plants, and to support her small children in continuing their educations.
The members of the group “thank Kiva and Fundacion Realidad for their loans, for having confidence in them, and for helping them to continue working in their businesses”.
Previous Loan DetailsThis closely-knit group is called "Las Malinches" and is made up of Ms. Adelaida and Ms. Raquel who are going to use their loan to purchase sugar, eggs, drinks, cookies, cheese, oil, soap, rice and beans; Ms. Genoveva who will buy avocados by the box; Ms. Anastacia who will buy avocados, peaches… More from Las Malinches 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