El Encanto Group
Update on El Encanto GroupJuan Carlos, a married man with 3 children, is another member of the El Encanto (Charm) group. He had only a high-school education. He tells us how, by means of his small business selling hamburgers and hotdogs in his garage, he intends to provide employment for his family and give his children the chance of a better life. He and his wife run the business together and the fresh and home-made taste of their hamburgers helps to attract more customers. As he told us "In a business it is important to provide good customer service since the better the food, the higher the numbers of customers and the higher the earnings". He sells his hamburgers every day from 5pm until the last customer leaves.
A loan from VisionFund will enable Juan Carlos to buy the meat, tomatoes, onions, ketchup, mustard, pineapples, bread, sausages, bacon, ham and soft drinks he needs to continue selling hamburgers. It is important to him to see his business continue to grow, as he wants to give his children the chance to study for a professional career and to provide a better quality of life for his family.
The other members of the group are:
Mirna poultry sales
Feliza laundry service
Sergio taxi driver
Rosa María grocery shop
Jacinto taxi driver
José Luis tortilla maker
Jesús Eduardo perfume sales
Los demás integrantes del grupo son:
Mirna venta de pollo
Feliza Servicio de lavandería
Sergio servicio de taxi
Rosa María Venta de abarrotes
Jacinto servicio de taxis
José Luis tortillería
Jesús Eduardo Venta de perfumes
Previous Loan DetailsFeliza is one of the members of the group “El Encanto”, which is comprised of 7 people. Each one carries out a different activity in order to generate more income and improve their standard of living. This group is located in a sugar cane zone, only 15 minutes from the La Margarita refinery, on... More from El Encanto 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