Update on Espiga GroupThis communal bank is called "Espiga," and it is made up of 3 people who each have their own businesses. They all live in the town called Luis Espinoza. Virginio is married to Elisa, and together they have a son who is still in their care and is in middle school. He is requesting a loan to invest in the purchase of wood to make furniture, such as: chairs, dining tables, armoires, and other items. He has been doing this work for 20 years and 5 months, and he comments that it is going well, because with this business he has been able to get ahead with his family, and for him, this is the most important thing.
He started doing this work when he was very young, because he learned this trade from a skilled tradesman. Eventually, he decided to establish his own carpentry workshop where he could obtain his own income, and it is going very well for him.
What he wants is that with this small business and this loan, he will be able to continue to work and provide work for other people who help him to sand and varnish the furniture.
The members of this communal bank are: Enrique, who will invest the loan in varnishes and wood for his carpentry business, and Josefa, who will invest this loan in the purchase of ingredients to make tamales.
Virginio quien está casado con la señora Elisa con quien procreo un hijo que aún está a su responsabilidad y estudia en secundaria.
El solicitó el préstamo para invertirlo en la compra de madera para elaborar muebles como son: sillas, comedores, roperos, entre otros en donde lleva trabajando veinte años y cinco meses en la que comenta que le va bien ya que con ello a estado saliendo adelante con su familia que es lo más importante para él.
Inició con esta actividad desde muy joven ya que aprendió de chalan (ayudante) y con el tiempo decidió poner su propia carpintería, en donde pudiera obtener su propios ingresos y le va bien.
Lo que desea es que con esta pequeña actividad y el préstamo él pueda seguir trabajando y dando trabajo a otras personas que le ayudan a lijar y barnizar los muebles.
Quienes integran en el grupo son:
Enrique quien invertirá en barnices y madera para su carpintería y la señora Josefa invertirá en la compra de ingredientes para la elaboración de tamales.
Previous Loan DetailsThe group is called "Espiga", and is made up of three persons; two men and a woman. They live in a small community. Virgionio was the one interviewed. He is married to Elisa, and they have four children who are already married. He says that he applied for the loan in order to buy wood for mak... More from Espiga 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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