La Cabañita Group
Update on La Cabañita GroupThe Cabañita group is made up of 12 members; all hardworking women who struggle to have a better quality of life. Liliana is 29 years old and is originally from a community called San Andrés. She and her husband have a mechanic workshop. She helps him however she can and in whatever he can teach her. She says that she’s had the business for more than six years and that they started it due to lack of auto parts in her community. She and her husband decided to open a shop so that other mechanics could come and buy what they needed to fix cars. She says that she really likes her work and that she watches over her two children and the business. She is requesting a loan through Vision Fund so that she can continue to invest in her auto parts business and have different brand parts. She says that her goal is to grow her business and open a parts store in a larger community, closer to the road. The other members are llaman Consuelo, Leticia, Florentina, Tomasa, Blanca Estela, Maricela, Martha, Isabel, Reynalda, Sofia and Alejandra, and they will invest in cosmetics and perfumes via catalog, baking supplies, products for a grocery store, seasonal fruits and vegetables, and shoes and clothing via catalog.
Previous Loan DetailsBlanca is a member of the “La Cabañita” group. The members gave the group this name because the place where the group meets is in a cabin belonging to one of the members. Blanca is 36 years old and married to Faustino. They have three children: a young girl of 17 who is in senior high scho... More from La Cabañita 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