El Aguacate Group
Update on El Aguacate GroupMichoacán is one of the first states worldwide that is dedicated to cultivating avocado fruit. Blanca says that the group has the name (El Aguacate - the avocado) because that is what they grow the most. It is a very delicious fruit. There are quite a few nurseries that are dedicated to planting the seed and that sell that type of plant wholesale.
Blanca is 30 years old and has been dedicated to growing vegetables like radishes, spinach, onions, Manzano chiles, and avocado for the last year, when she started her business. She started it because she didn't make enough from cosmetics and perfume catalog sales, and to help her husband. She began to grow vegetables and sell them in the market.
She says that she began this type of business to take advantage of the wide area that she has, and her husband has knowledge of crops. She began to help, and together, they're improve their family. She has a daughter which is in primary school, and she is eager to giver her the best.
She says that she is asking for the loan to buy seeds, fertilizers and insecticides to improve her fruits and vegetables, and also to buy an avocado plant.
The other members of the group are called Angelina, Emilia, Brenda Guadalupe, Alondra, Juana, Yolanda, María Cristina, Alicia and Verónica. They will invest their credits to buy items to re-stock a grocery store, for seasonal fruits and vegetables, material to make bricks to sell, and to buy catalog cosmetics, clothing and shoes.
Previous Loan DetailsAlicia is 38 years old and is part of the group called "El Aguacate" ["The Avocado"]. She says that they gave their group that name because that's what they call their community; they decided to name the group after their community so that they wouldn't forget the name. Alicia has been with the… More from El Aguacate 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.
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Success!! The loan was 100% repaid