Update on Hanny GroupBaldomero is a new member to the group, with the money from the loan he is going to buy spare parts to fix his taxi. The other group members are continuing with the activity that they were previously involved with.
Virginia is 46 years old, she is single with four children, 2 girls and 2 boys. One of her sons is studying in a 'CBTis' [Technical High School] and the others are already married. She has a taco stall where she sells beef 'taquitos' (taquitos are corn tortillas that are rolled into a tight cylindrical shape, with meat on the inside), beef enchiladas and sausages. She requested the loan to buy chili peppers, green tomatoes, red tomatoes, beef and vegetables. She started her business 20 years ago out of necessity to pay for her children to go to school and help them get ahead. Her business is important because it allows her to put food on the table and help her children to move forward. She feels proud when people say her 'taquitos' are delicious. She has a friendly demeanor towards her customers so that they will want to come back again. She is happy with this loan because she will be able to stock up on the ingredients she needs to continue working. Her hopes and dreams are to grow the business, to make her business is productive and that her children are well.
The group members would like to say to Kiva and to 'Fundación Realidad' "We are thankful for your loans, they give us the opportunity to grow our businesses and to make them look more beautiful."
Previous Loan DetailsThe Hanny communal bank is comprised of: Dolores, who will use her loan to buy paper, pencils, notebooks, and bond paper. Silvestra, who will buy chocolates and milk cream candy. Erika, who will buy bras, panties, and t-shirts. Guadalupe, who will buy bags of cosmetics and hair scrunc... More from Hanny 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