Update on Cuautomatitla GroupThe new members are Nicolasa, who is going to buy flowers with her loan, Virginia, who is going to buy cold cuts, beverages, and mayonnaise, Roberta, who is going to buy pears and avocados, and Sahara, who is going to buy sugar, oil and beverages. The other members continue in the activities that they have been doing. Josefa is 44 years old, married and has 7 children, 4 girls and 3 boys. Her sons are married and 1 of her daughters is in preschool, another in elementary school and the another in high school. She has a small grocery store and has asked for her loan to buy merchandise such as sugar, oil, rice, eggs, beverages, chips, soap, brooms, etc. She started her business 14 years ago out of necessity, to make more money. She started small selling a few beverages and bread and grew little by little. Her business is important because it helps with the household expenses. She is proud to have her own business and she likes to sell, serving her customers in a friendly way so they return to her business. She uses the earnings to re-invest and for the expenses for her daughters who are in school. She is happy with the loan that she is going to receive and she is going to buy merchandise for her small grocery store so she can offer better service to her customers. Her hopes and dreams are to have another business selling clothes and for her children to have their own business as well. The members of the group want to tell Kiva and the Fundación Realidad “we thank you for trusting us, since without knowning us you lend to us. Thanks to you we have been able to make our businesses grow and live better with our families."
Previous Loan DetailsThis solidarity group is called "Cuautomatitla", and is made up of the following members: Elia will use her loan to buy corn by the load. Emiliana and Flaviana are going to buy fruits, nuts, peaches, tejocote (hawthorn), and pears by the case. Josefa, Juana and María Isabel are going to ... More from Cuautomatitla 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