Barrio El Riito Group
Update on Barrio El Riito GroupThe "Barrio el Riito" Group is made up of very responsible and hard-working women. It is the first time they're in this group and working with the institution (VisionFund Mexico), and they have chosen their group name because they are located close to a small river with crystal clear water that the community drinks from.
Doña Luisa is a very hard-working 41-year-old woman who is married to José; together they have formed a family with five children who are in school. Doña Luisa is her group representative and has been working with the institution for three loan cycles, in which she has requested loans to buy more sheep. This time, she is not sure how many sheep she will buy because she also needs to buy their feed, since even though she lets them graze in the afternoons sometimes that's not enough. She has been raising sheep for the last six years so that she can help out with household expenses, since for Doña Luisa it is very important for her children to study and become professionally accomplished; her goal is for her children to have a better quality of life. Doña Luisa's challenge is that she lacks money to fix her sheep pen so that they don't get sick very often, since if they get sick they could die and that would mean a loss of income. Doña Luisa is very happy with the loan she received from the institution, just like the other group members: Doña Juana, Guadalupe, Eteresa and Elodia will buy more chickens, while Doña Pilar, Tomasa and Antonia are requesting their loans to buy more sheep, and Doña Herlinda will restock her small grocery store.
Previous Loan DetailsThe group "Barrio El Riito" consists of seven hardworking and responsible women who are working together as a group with Fundación Realidad for the first time. They chose the name for their group because they live near a small river that provides crystal-clear drinking water for the community. On… More from Barrio El Riito 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