Update on Chibaty GroupMargarita is 44 and is from a very picturesque community where the majority of the residents make Ocoshal [woven pine fiber] handcrafts. Margarita tells us that a friend invited her to take out a loan in order to improve her avocado trees; this friend saw her trees and said "These trees are in very bad shape; you need to fertilize them in order to have a good harvest". Margarita replied "The truth is that right now I don't have much capital to invest, and everything I would need to keep them in better shape is very expensive". It was then that her friend invited her to form part of her group, called Chibaty, where they were taking out a loan to improve their businesses. Margarita decided to join because she wanted to improve her trees and thus help her husband to improve their living conditions. She says that she has 58 trees that are already 4 years old, and that they have not yielded much fruit because she has not been able to provide optimal maintenance. When it is harvest time, she goes to the central supply centre of a nearby village and sells her fruit in small bags; her harvest is not very large. She says that she hopes that, with this loan, she will be able to buy everything her trees need, such as fertilizers, manure, insecticides, and Calidra-brand lime. She says that she is grateful to Vision Fund because they will provide this loan. It will be of great use to her and she will benefit greatly. The other five group members are called María Leucadia, Amelia, Irma, María Crisanta, and Ausencia. They will invest in supplies for the cultivation of avocado and for the purchase of materials for making Ocoshal [woven pine fiber] handcrafts.
Previous Loan DetailsAmelia is 59 years old and is a very hardworking woman who wants to improve her quality of life. She lives in a very beautiful and picturesque community that is surrounded by pine-covered hills; the pine trees provide Amelia with a source of raw material for the Ocoshal [woven pine fiber] crafts... More from Chibaty 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