Update on Cuauhtémoc GroupArmando is 42 years old and is married with 2 children who are studying in secondary and primary school. He is part of the loan group Cuauhtémoc. Armando has a workshop making and selling tarps, which he makes for houses, for cargo trucks, and for special events. He says that, lately they have been requested for nurseries as there are many nurseries in the area. He says that the fabric is supplied from the city of Toluca and that he puts the tarps together and sews them in the way that his customers request. Right now, he is requesting a loan to grow his business and he hopes that it will go well because he has various orders that he has not been able to meet because of a lack of material. Armando says that he is grateful for the loan because, with it, he will improve his business and he will have what he needs to make his tarps. The other members of the group Cuauhtémoc are called Dulce, Raquel, Zerafina, Erika Jazmín, and María Guadalupe. They will invest in supplies to make and sell bread, in clothes to sell, seasonal fruits and vegetables to sell, buying original perfumes, goods to sell in a grocery store, in maintaining a washing machine, etc.
Previous Loan DetailsSr. Raúl is 54 years old and single. He says that he is a member of the group called “Cuauhtémoc” and that the name was chosen because it is the street where they meet each week to submit their payments. Raúl says that he has a grocery business located in the house where he has lived for more… More from Cuauhtémoc 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