Faltan Integrantes/revisar Monto Individual Géminis Group
Update on Faltan Integrantes/revisar Monto Individual Géminis GroupThe Géminis” Communal Bank is located in town. It is a group that has worked together through several loan cycles with FRAC. It has never defaulted and has always been a group that is very responsible in its payments and its meetings. The group’s name was chosen because that was what they liked calling themselves and there was no other choice.
Doña Maria del Carmen, who is one of the members of the group is a very hardworking and enterprising person. Above all she meets her responsibilities. She notes that she is 44 years old and is a widow with two dependents: one of her daughters is studying in the university.
Carmen has been living in the same town for 20 years and for the past 8 years, she has been selling “antojitos Mexicanos” (Mexican snacks). She says “I started my business because I love to cook food of all kinds, Spanish, Mexican, Chinese, however here we only know Mexican food and therefore I sell Mexican snacks. My only difficulty was when I started because I did not have a fixed place where I could sell my snacks, however now I have a space in front of the town hall where I put my vendor’s cart. I open from three in the afternoon until 12 at night.”
Carmen’s goal is for her daughter to finish her university studies. She does not want to tell her that she cannot finish her studies due to lack of money.
All of the members are very grateful and are working with FRAC because the loan will be a great help since it enables them to expand their businesses, such as Jose, Josefina and Saturnina, who will invest in clothing, Araceli in her store, Jessica in gifts, Rosa Celia in woven goods, Lidia in pigs, Maria Felisa in calves, Yolanda in the sale of tortillas and Erica in quilts, sheets, bedspreads and towels to sell. (Erica does not appear in the photo because she was working).
Previous Loan DetailsThe group "Géminis" consists of 11 members, 10 women and 1 man. All of them engage in some type of business activity. They are all hardworking and responsible. The members say that they are very pleased because the town of San Felipe is close to celebrating Mother's Day. They say that the name… More from Faltan Integrantes/revisar Monto Individual Géminis 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.
6View loans »
Success!! The loan was 100% repaid
- Repayment Term
- 6 months (Additional Information)
- Repayment Schedule
- Aug 10, 2012
- Oct 3, 2012
- Currency Exchange Loss:
- Jan 19, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.