El Moralito Group
Update on El Moralito GroupAna Laura is 30 years old. She says her favorite pastime is to go for a run in the afternoons to relive a bit of the stress of going from place to place. She belongs to a group called el Moralito and says that they chose this name because it is the name of the neighborhood where they live and meet. she tells us that she sells underwear such as men’s' socks, ankle socks, boys' and girls' socks, thongs, ladies' panties, men’s' boxers, etc. She has had this business for over 2 years and her sales have been very good. She has customers who place wholesale orders since she gets her stock in Mexico City at the factories where the clothes are made and she gets a better price. She says that every 15 days she goes to purchase additional stock, since she also makes sales at a small stand she has at a market near her neighborhood on Sundays. She is requesting this loan to purchase more stock and she also wants to set up a larger stand on Thursdays when there is a local market, in order to increase earnings. She tells us that her dream is to set up a stable business so that she can spend more time with her 3 children, who are all in primary school. The other 9 members of the group are Juana Guadalupe, Rosa Isela, Maria Felicitas, Oliva, Ana Lilia, María Virginia, Beatriz, Pablo and María Elena. They will invest in their business selling cosmetics and perfumes, in buying women’s and men's clothing for sale, in ingredients for a bakery, in different brands and styles of shoes for sale by catalogue, to stock up on fried foods, candy, ingredients to make hot cakes, filled churros to sell at fairs, toys to sell at fairs, and ingredients to make hamburgers and hot dogs.
Previous Loan DetailsDoña Beatriz, age 37, leads a group called El Moralito. Their neighbourhood is called El Moral, and to identify themselves easily, all the mmbers decided to call the group El Moralito. Beatriz is very happy to have such a hardworking group: there have been no problems with repayments, and they all… More from El Moralito 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