5 De Mayo Group
Update on 5 De Mayo GroupThe new members of the group are Acasia, who will purchase sugar and essences; Albertha and Cristina, who will purchase corn; Mercedes and Juana, who will purchase pigs and feed; and Maria del Rosario, who will purchase corn, oil, vegetables, sugar, and meat. The remaining members continue developing their work.
Cristina is 32 years old. She harvests corn and requested this loan to purchase seeds and to plow the field in order to plant the corn. She is married and has three children: 1 girl and 2 boys. The girl is in preschool and the boys are in primary school and high school.
Cristina started her business 5 years ago. Her husband and father-in-law harvest the corn, although she also likes to work in the field. Her business is important because of the income it provides for food and family costs. In addition, with this business Cristina can eat homemade and finely chopped tortillas, and she is very proud to harvest the corn. With the earnings she constructed a bedroom for her children, pays the costs of schooling, and will pay back the loan. Her dreams and goals are to continue harvesting corn and helping her children with their studies.
The group members give thanks to Kiva and to Vision Fund (FRAC) for the loans: "Thanks to your loans we can continue progressing in our businesses."
La señora Cristina tiene 32 años de edad, ella cultiva maíz y solicitó su préstamo para comprar semillas y una parte para barbechar la parcela y poder sembrar el maíz. Ella vive en unión libre; tiene 3 hijos 1 mujer y 2 varones, todos están estudiando: la niña en preescolar y los niños uno en primaria y otro en la secundaria. Ella inicio su negocio hace 5 años, su esposo y su suegro son los que cultivan el maíz aunque a ella también le gusta ir a trabajar al campo. Su negocio es importante por los ingresos que obtiene para la comida y los gastos de la familia. Además, con este negocio Cristina tiene las facilidades para comer tortillas hechas a mano y picaditas, ella se siente orgullosa de cultivar el maíz. Con los ingresos de las ventas construyó un cuarto para la recámara de sus niños, paga los gastos de la escuela y también le sirven para pagar el préstamo. Sus sueños y esperanzas son continuar con su cultivo de maíz y seguir ayudando a sus hijos con sus estudios.
Las integrantes del grupo le dan las gracias a Kiva y a Vision Fund (FRAC) por los prestamos: "Gracias a sus préstamos podemos seguir progresando en los negocios".
Previous Loan DetailsThis group is called “5 de Mayo” and is located in the community of Ocuituco, México. Its members are Isabel who will use the loan to buy cans of peaches, María del Carmen who will buy rice, cheese, oil, paper and bags to prepare fast food snacks, Eufrocina who will buy eggs, sugar, soap and oil... More from 5 De Mayo 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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