Update on Ocuituco GroupAna Lilia, aged 21, is married and the mother of two young boys. She sells footwear via catalog. She applies for this loan to expand her inventory of shoes and sneakers for women, men and children. She launched her business four months ago with a Kiva loan. Her business is important for her, because she can contribute to family expenses and she likes going out and offering her products to her neighbors in the community. She offers the shoes with payment facilities. She likes socializing and is proud to sell shoes because she can have an income and care for her children. She uses her profit to invest in new footwear and provide for the needs of her children. She dreams and hopes that people continue to buy her merchandise, that she get more customers, that her children be well nourished and grow up healthy, and that she be able to cover school fees when her children start studying.
Ana Lilia is happy with the loan that she is about to receive. She will use it to expand her business and buy shoes to fulfill her orders. She wants to tell Kiva and the microfinance institution Fundación Realidad: "we are grateful for your loans; thanks to you we can start a business and you give us new opportunities for success."
Previous Loan DetailsThis group is called “Ocuituco.” The members are Elena who will use the loan to buy creams, perfumes and cosmetics, María who will buy beans, tortilla dough, corn and firewood, Mónica who will buy oil, sugar, eggs, cream, yoghurt and votive candles, Celia who will buy dried meat to stock her st... More from Ocuituco 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