Update on Aroma GroupThe “Aroma” group is composed of nine women and one man; all are hardworking, responsible people. The name of the group was chosen this way because they couldn't decide on a name. They wanted the name of a flower or a plant; however in the midst of joking around the name “aroma” occurred to a man who is no longer a group member.
Magdalena is a group member. She relates that she’s 52-years-old and married to Apolinar for the last 34 years. They formed a family with children but they are all grown now and living independently from this couple. Doña Elena, as she’s affectionately called, relates that she’s been selling all types of clothes for the last 8 years but on this occasion is asking for a loan to only buy clothes for babies. She relates that she started her activity because one of her children sold records but then changed over to selling clothes and Doña Elena decided to also sell clothes. She sells only on Mondays in one of the state’s municipalities. She’s very happy and grateful for the loan that the institution is granting her because thanks to the loan she’ll be able to buy more baby clothes for her little stand and will be able to expand and her profits will grow. Doña Elena commented: “For me it’s better to have a wide variety of clothes to offer my customers who then happily return to buy more clothes for their entire family from me.”
During the Christmas season, Elena always has problems with her stand because during this season the authorities in charge of assigning the stands give preference to those merchants selling Christmas items like sets of lights, trees, tree decorations, etc. and often she’s left without a stand during this season. Elena’s goal is to someday have a stand where she can sell her clothes and not have to be going through this time after time.
The group members are Adela who will buy corn to make tortillas and a scale, Linares and Alejandra who will buy chickens, Teresa will buy pigs, Lourdes and Adriana will buy sheep, Agripina will sell backpacks, Laura and María Maura will buy chickens and turkeys.
Previous Loan DetailsThe group "Aroma" consists of 10 hardworking and responsible women. The name of their group was chosen after the members had a difficult time deciding whether to name their group after some type of flower or plant. They ended up choosing the name "Aroma" after it was suggested jokingly by a gen... More from Aroma 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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