Paraiso De Los Claveles Group
Update on Paraiso De Los Claveles GroupThe new members of this group are Florencia, who will use her loan to buy new and used clothes; Manuela, who will buy sugar, paint, flavors, bags and drinking straws; Arcelia, who will buy a "comal" (a griddle), a base for the comal, gas, an aluminum jar and a gas tank to fit out her shop; Luz María, who will buy cosmetics and perfumes; and Epifanía, who will buy soap, eggs, oil and sugar. The other members of the group keep on engaging in their respective activities. Florencia is 55 years old, she is a single mother of 3 adult sons who are all married. She sells new clothes and used American clothes that she will sell in the street markets. She is requesting a loan to buy new clothes such as blouses and dresses for girls, as well as used American clothes such as blouses, skirts, shirts and shorts. She started her activity 3 years ago out of necessity, and her activity is important for her because the income it generates helps her buying food and investing in the purchase of clothes for her activity. She hopes that her activity will keep on growing, and that also her children will be willing to run their own activities. This is what the members of the group want to say to Kiva and to Fundacion Realida: “thank you for your loans, they help us making our activities grow. If only the interest rates would lower”.
Previous Loan DetailsThis solidarity group is called “Paraiso de los Claveles” (Paradise of the Carnations), which is located in Tepalcingo, State of Morelos, Mexico. The group consists of four members who know each other and are neighbors.
One of the group members is Violeta A. A.. She is 40 years old and… More from Paraiso De Los Claveles 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