El Durazno Group
Update on El Durazno GroupThe new group members are Imelda who will use the loan to buy insecticide and manure for her avocado orchard; Catalina who will buy notebooks, pencils, construction paper and Crayola crayons and Adriana who will buy seasonal catalogues, shoes and huaraches. The rest of the members continue with the activities they’ve been carrying out.
Catalina is 55 years old and a widow; she has seven children, six adult boys who are all employed and a 17 year old girl who is studying at the CBTA [Farming and Animal Husbandry Technical High School]. She sells crafts like ponchos, shawls, knitted capes, paper goods and fruit like peaches, pears, plums and flowers and sheep.
She asked for her loan to buy wool yarn, construction paper, notebooks, pencils, mechanical pencils, erasers, pencil sharpeners, modeling clay, colored pencils and crepe paper. She started her business 22 years ago needing to find a way to get ahead with her children.
She learned how to make shawls and ponchos from her mother. Her business is important because she obtains income that helps with her daughter’s school costs and because it keeps her occupied.
She likes everything she does; in the afternoons she tends to her stationery shop. One day a week she sells flowers and two days a week she makes the shawls. She likes to make the shawls and ponchos and see them finished. She feels proud to have won a contest with one of the shawls she made. This is a popular business because of the indigenous crafts.
Her dreams and hopes are to make her stationery shop grow and to have services like photocopying and spiral binding and to see that her children become responsible people and that they don’t lack anything. She is happy with the loan she’s going to receive because she is going to expand the stationery shop.
The group members want to say to Kiva and to Fundación Realidad: “We thank you for your loans; you help us keep our businesses well-stocked and to live better with our families.”
Previous Loan DetailsThis supportive group called El Durazno is made up of Libia, who is going to use her loan to buy walnuts; Florinda, Araceli and Rosa, who will buy wool yarn to make shawls, overcoats, bags and scarves; Domitila, who will buy fertilizer and manure for her avocados, limes, squash and raspberries; a... More from El Durazno 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