El Esfuerzo Group
Update on El Esfuerzo GroupThe members of the group continue in their businesses. Erika, a 21-year-old young woman, is married and has a two-year-old male son. She works raising and selling pigs. She requested her loan to buy some young pigs and pig feed. She started her business two years ago because of her husband, who likes animals. He taught her to feed and care for the pigs. Her business is important because of the profits she gets when she sells the pigs. She likes to see the pigs grow and get fat. She uses the profits to buy pigs and feed.
Her dreams and hopes are for the pigs to grow and achieve, and for her entire family to be well and not get sick.
The members of the group want to say to Kiva and Fundación Realidad, "Thank you very much for your loans. They help us to grow our businesses and to continue working and helping more people who need it."
Previous Loan DetailsThis group is called “El Esfuerzo” (The Effort) and includes Avelardo, Israel, and Leoba. They will use the money from this loan to buy fertilizer, bags, and avocado plants. Erika will buy five piglets to fatten up. Wendy will buy shoes and catalogs. Avelardo is 20 years old, single, and… More from El Esfuerzo 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