Las Morenitas Group
Update on Las Morenitas GroupPaula is 25 years old, and is in a civil union with two daughters, one of whom is in preschool. Paula makes a living selling sheep, and is requesting this loan in order to buy ground up grass to feed her sheep. She started her sheep sales business with a small amount of money that she had, and her business is very important to her, since it allows her to generate some income. She loves watching sheep be born, and then grow over time. Consequentially, as her sheep grow, her business has also grown. She raises sheep and fattens them up, and she uses the money she earns from sales to purchase more sheep, as well as grass and feed for her animals.
She is planning to buy pigs for raising and eventual resale in hopes of generating income and profits. Her business has helped her family with their financial situation, and she is happy that this loan will help her to continue to grow her business. Her dreams and hopes are to purchase her own land to build a house on, and to provide her daughters with a good education. The members of the group would like to thank Kiva and Vision Fund for the loans, their confidence in the group, and for helping the group members grow their respective businesses.
Previous Loan DetailsThis communal bank is called “Las Morenitas.” Its members are: Rocío and Paula who will use their loans to buy sheep, vaccines and vitamins; Juana who will buy soft-drinks by the case; Alma Delia who will buy natural yoghurt, drinking glasses and spoons. The group members want to say to Kiva and… More from Las Morenitas 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