Buenos Aires Group
Update on Buenos Aires GroupAbade is a member of the “Buenos Aires” communal bank. She’s a 40 year old single mother and has five children of which three are students and still dependent on her.
Abade has been making tortillas to sell for the last seven years. She started her business by herself and now has a small tortilla shop that she and her four employees tend to from 3am until noon. Her advantage is that she has a good clientele but the only problem is that she has to pay rent and what she earns in profits helps her cover the rental cost.
Abade is asking for the loan to buy Maseca [brand of corn flour] and firewood. With support from the loan she’ll be able to continue to have an economic activity that will make it possible for her to cover costs of supporting her family and provide a source of employment for her employees. Her dream is to have a house of her own and to help her children develop professionally.
She’s been getting support from FAMA for five years and has made her installment payments punctually; loans obtained have helped her improve her living conditions and her business.
Previous Loan DetailsAmenecia is a member and coordinator of the Buenos Aires communal bank. She makes and sells tortillas. She is a single mother of seven children, and lives with her family in the Jesús neighbourhood of the Juticalpa municipality. Mrs. Amenecia began working for a living at a young age. She worked… More from Buenos Aires 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 21, 2012
- Mar 17, 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.