Residenciales El Campo N° 2 Group
Update on Residenciales El Campo N° 2 GroupSantos Blacina is 51 years old and married with four children. She is a member of the Residenciales El Campo Nº 2 Solidarity Group. She sells cosmetics and decided to sign up with the program to sell Avon products by catalog. As she works in a pharmacy and makes home visits, in her free time she shows the products in the catalogs, leaving the catalogs behind if there isn’t much time and then returning for them later.
One of the problems is that Santos provides credit and sometimes her customers default on their payments when due. She needs the loan to buy more and a greater variety of beauty products, such as nail polish, eye shadow, eye liner, lip liner and mascara, among other items.
The loans Santos has obtained have helped her to have her own house because before she did not own it. One of her problems is that she is a traveling salesperson and when she is paid she has to move around carrying cash and she has been assaulted several times. Her goal is to work very hard each day in order to have her own shop. She has been a client of FAMA for more than 21 loan cycles and has shown great responsibility in making her payments on time.
Previous Loan DetailsThe “Residenciales El Campo #2” (El Campo Residences #2) group consists of three members who do different economic activities. Mrs. Elbia, 51, is one of the members. She’s a widow and has five children. From Monday to Friday she has a steady job working as a Cleaning Lady and on weekends she s... More from Residenciales El Campo N° 2 Group's previous loan »
About FAMA:Honduras is one of the poorest countries in the Western Hemisphere with approximately 59% of people living below the poverty line. Familia y Medio Ambiente OPDF (FAMA OPDF) is a Honduran non-profit with no religious or political affiliation. FAMA’s mission is to provide quality and opportune financial services so that men and women have equal opportunities to develop their micro or small businesses, whether they focus on agriculture, manufacturing or services. FAMA operates 13 branches throughout Honduras and serves over 12,500 clients.
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
- Repayment Term
- 6 months (Additional Information)
- Repayment Schedule
- Feb 29, 2012
- Mar 14, 2012
- Currency Exchange Loss:
- Jul 15, 2012
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.