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El Polvorin Group
In this Group: Catalina, Maricela, Maria Guadalupe, Maria Victoria, Diana Martina, Rosa Maria, Maria Isabel, Ygnacia, Joaquin, Maria Isabel, Maribel*
* not pictured

Update on El Polvorin Group

Joaquín is 35 years old and he is a baker. He has had his bakery for seven years. He and his wife started this business since his in-laws taught him how to make bread. He makes different breads like egg bread, butter bread, concha (shell shaped) bread, cream bread and more. Juaco, as he is known in his community, is asking for a loan to purchase eggs, milk, sugar, butter and more ingredients for making bread because he sells it every day in his community. He buys his supplies in the city of Zitacuaro at different stores that offer good prices so that he doesn’t lose money and keeps some profits. Joaquín says that one of the challenges he faces is that he does not have a location where he can sell his bread or a vehicle for transporting the products every day. He says that the loan will benefit him a lot because he can buy the things necessary for making the bread and then, obtain a better quality of life for his children. His goal is to have a business location where he can sell his hot bread right from the oven and he won’t have go around the homes. Perhaps he can give employment to people in his community. The other members in the group are Catalina, Maricela, Guadalupe, Maria Victoria, Diana, Rosa Maria, Maria Isabel, Ygnacia, Isabel Medina y Maribel. They will invest their loans in fruits and vegetables, antojitos (Mexican street snacks), materials for handicraft embroidery, catalog clothing, silverware and sweets.
View original language description ↓
Joaquín tiene 35 años de edad y su oficio es hacer pan. El tiene una panadería desde hace 7 años su esposa y el emprendieron ese negocio ya que sus suegros le enseñaron hacer el pan, el hace de diferentes panes como de huevo, de mantequilla, conchas, de nata y más. Don Juaco como es conocido en su comunidad está pidiendo un préstamo a la financiera para comprar huevo, leche, azúcar, mantequilla y más para la elaboración de su pan que diariamente hace para vender en su localidad, el compra sus insumos en la población de Zitacuaro en diferentes tiendas que le den buen precio para que no salga perdiendo y le quede algo de ganancia. Comenta don Joaquín que uno de los desafíos que el enfrenta es que no tiene un local donde pueda vender su pan o un vehículo donde pueda trasportarlo diariamente. Dice que el préstamo le beneficiara de mucho ya que comprara lo necesario para la elaboración del pan y con lo que obtengan les dará una mejor calidad de vida a sus hijos. La meta que tiene es hacer un local donde venda su pan calientito recién sacado del horno para ya no andar por los ranchos y tal vez darle trabajo a las personas de su comunidad. Las demás integrantes del grupo se llaman Catalina, Maricela, Guadalupe, Maria Victoria, Diana, Rosa Maria, Maria Isabel, Ygnacia, Isabel Medina y Maribel ellas invertirán sus crédito en frtuas y legumbres, e antojitos mexicanos, en material para bordados artesanales, en ropa por catalogo, en paleteria, dulces,

Previous Loan Details

Reyna is 30 years old. In the locality where she lives avocadoes grow profusely. She’s married and her husband’s a day laborer. They have a daughter who is in elementary school. Reyna belongs to a credit group called “El Polvorín” (Powder Keg). She comments that they chose that name beca... More from El Polvorin Group's previous loan »

Additional Information

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.

About Mexico

  • $11,249
    Average annual income
  • 11
    View loans »
    Mexico Loans Fundraising
  • $18,125,250
    Funds lent in using Kiva
  • 12.8
    Mexico Pesos (MXN) = $1 USD

Success!! The loan was 100% repaid

A portion of El Polvorin Group's $4,400 loan helped a member purchase supplies for baking bread.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 28, 2012
Listed
Apr 15, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 31, 2012