3 De Mayo Group
Update on 3 De Mayo GroupThe newest members of the group are Maria de Guadalupe, who plans to use the loan to purchase firewood, and Ubalda, who is going to purchase candies. The other members continue developing their activities. Ubalda is 77 years old and married. Her husband is sick and doesn't work. She has 13 children, eight boys and five girls, all of whom are grown up. Ubalda has a post selling candy and is requesting the loan to purchase lollipops, caramels, marzipan, gum and chocolates. She started her business 10 years ago because she wanted to do something and keep busy. Her business is important because it raises revenue so she can keep eating and investing. She enjoys selling candy because children appreciate it, and her sales post is known for its customer service. Ubalda is happy about the loan and plans to use it to purchase candies to expand her business. She uses her profits for sustenance and to reinvest in candies of different flavors. Her hopes and dreams are for everyone to stay in good health and for her children to lack nothing. The group members thank Kiva and partner Fundación Realidad for the loans and say "We are happy that you are supporting us with the loans to grow our businesses."
Previous Loan DetailsThis solidarity group is called the 3 de Mayo. It consists of Senora Tomasa who with her loan is going to buy a gas griddle, meat, tortillas, plates and glasses; Senora Yolanda who will buy soft drinks by the case; Senora Maribel who is going to buy firewood by the truckload; Senora Cleotilde who... More from 3 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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Success!! The loan was 100% repaid