El Progreso (Flat) Group
Update on El Progreso (Flat) GroupGenaro is 55 years old and single. He did not attend school. He says that he learned to farm when he was very young but he had always wanted to work in his own business in order to earn a little more money. A little over 13 years ago, Genaro started raising lambs. He works from home where he built a small pen for his lambs. Every day he takes them out to graze. He says "my work is lovely but you have to know how to care for these little animals because they are delicate. If one of them becomes ill or all of them become ill, you have to vaccinate them and give them a lot of care". Genaro says that he makes most profits during holiday times because that is when he sells most lambs. They also make him profits when they have babies. Genaro will invest this loan in buying feed and vaccines so that he can continue working in his business. He hopes, in the future, to invest his profits in buying construction supplies because he would like to build premises and start a new business.
The other members of this group are:
Herminia - who runs a nutrition club.
Patricia - who sells groceries.
Rosario - who sells footwear.
Alicia - who runs a nutrition club.
Dor Luz - who sells food.
Donaciano - who buys and sells scrap metal.
Los demas integrantes del grupo son:
Herminia club de nutricion
Patricia venta de abarrotes
Rosario venta de calzado
Alicia club de nutricion
Dora Luz venta de comida
Donaciano compra y venta de fierro viejo
Previous Loan Details"El progreso" ("The progress") is a communal bank comprised of seven people. They have decided to use this name for their group because they hope that with this loan there will be progress in their businesses and in their families' living conditions. The communal bank is located in the community of… More from El Progreso (Flat) 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