Update on Génesis GroupThe group "Genesis" is made up of 5 hardworking and enterprising people. One of these is Juana del Rosarios, who for 18 years has had a business selling cut fabric. She also has 5 years of experience selling food. She will invest this loan in both of her businesses, with the purchase of merchandise (fabric, staple grains, meat and perishable grocery items).
Juana has 6 children, of whom only 1 still depends on her. That child is 16, and is attending high school.
The other members of this group are Rosa, 39, who sells clothing, Mirta, 35, who also sells clothing, Juan, 31 who has been selling fabric for 5 years, and Jose Armando, 49, who has been selling clothing and cut fabric for 15 years.
Juana tiene 6 hijos de los cuales solo depende de ella el menor de 16 años quien está cursando la secundaria.
Los otros integrantes son Rosa de 39 años quien vende ropa, Mirta de 35 años se dedica al comercio de ropa, Juan de 31 años vende telas desde hace 5 años, José Armando de 49 años quien es comerciante de ropa y corte de ropa desde hace 15 años.
Previous Loan DetailsThe Génesis group is made up of Mrs Juana del Rosario, age 49, Mr. José Armando, age 48, and Mr. Juan Manuel, age 30. They are merchants of cuts of fabric which they sell in street markets. The group coordinator is Mrs. Juana, who started selling cuts of fabric in street markets in 1987. Her… More from Génesis Group's previous loan »
About ADIMLocated in Central America, ADIM is a small microfinance institution with a strong social focus. In the saturated microfinance market of Nicaragua, ADIM stands out for its emphasis on the holistic development of women as well as its provision of responsible financial services. Founded in 1989 by a small group of Nicaraguan women, this institution has remained true to its initial goal of providing its clients (90% of which are women) with an opportunity for economic growth, in addition to personal and professional empowerment. Supporting an ADIM borrower means contributing not only to the continued offering of the socially conscious services it provides, but also to the sustainable growth of a truly unique microfinance institution.
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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