Update on Asaf GroupThis is the second loan cycle for "Asaf" group. The six members are still together. They loved working with VisionFund and they got along well among themselves. These women live in a peaceful community where the main economic activities are related to the field. People grow maize, broad beans, beans, peas, etc. The group chose the name "Asaf" because they saw it on the Bible and they really liked it, though they do not know its meaning. They do know that it was the name of a person responsible for coordinating musicians in a ceremony.
Emma is one of the members of this group. She is 38 years old and she is married to Leobardo, who is a salesman like her. They only had one child, but he is already self-sufficient. "We sell plastic containers such as blending machine glasses, plates, knives, cutlery, etc." But Emma also sells on her own material such as needles, threads, yarn, nail clippers, hair accessories, hair combs, etc. Emma is asking for a loan to buy these type of items. "It is good to have some more merchandise, especially fashionable."
The main difficulty these women have to face is the lack of money to expand their businesses. They have their establishments, but they need to get more merchandise. Besides, they do not take too many days to get rest. "I started selling product when I was 17; my mother-in-law was the one who taught me." Emma remembers coming with her husband's mother whenever she had something to sell and she loved the activity. Thanks to her business, Emma has the opportunity to meet lots of people, and some of them have even became her friends. "I want my business and my husband's to keep growing to raise our income because I want to improve the flooring in my house and to change the windows."
All the members are quite happy and grateful for the loan they are about to get. Raquel will buy some tarps and blending machine glasses. Felisa will buy store merchandise. Angélica will buy backpacks and flags. Agustina and Norma will buy "jarcería" (cleaning products).
Previous Loan DetailsThe “Asaf” group is made up only of women who are very hardworking and responsible. They live in a small and very peaceful area where the people earn their living growing corn. The group's members tell the story that they chose the name because they got it from the Bible. They are not entirely su... More from Asaf 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