Update on Altamirano GroupThe group Altamirano is made up of 8 people all of whom are very hard working women. It is a group that like to live characterized by the great friendship that is between them. The members of the group talked among each other and chose the name because of where the group began and where they met, on a farm with the name Altamirano". Elvira, a member of the group, is 44 years old, and is married to Delfino who works in the fields. They started a family 25 years ago with 5 children of whom 2 are still dependents who are studying. Elvira raises sheep for a living, and has done so for 20 years. She began her job because she wanted to help her husband with the household expenses. At that time her 5 children were very young and the expenses were great. It was for this reason and Elvira became motivated to begin raising lambs. She is currently requested a loan from the institution to purchase 2 lambs and pasture. Elvira buys small animals to raise, grow large and strong, and then sell them. She says that many times in the season of parties, weddings, baptisms, etc. they go to her home to purchase the lambs. She says, "I like very much when my sheep give birth to their lambs. For me it is a big satisfaction because I see the lambs grow." Her only difficulty is her lack of a good shed and and her lambs get sick and die and for Elvira this represents a loss of earning and her investment. Elvira's goal is to be able to have more lambs and pigs to raise and sell, and to increase her income to cover the costs of her children's education so that they can have a better quality of life. Team members are María Isabel, Patricia, Jessica, Ma Albertha will invest in buying and selling pigs for breeding. Teresa and María Eva will invest in the purchase and raising of lambs to sell. Finally Anayely will invest in chickens to raise and sell. They are all very grateful to Vision Fund and Kiva for the loan offered to them. It will be a great help to improve their businesses.
Previous Loan DetailsThe Altamarino group is from the San Pedro community in San Felipe del Progreso. The group is comprised of seven women and one man, and they are very hard workers. Each member of this group is married and has a family. Each one of them strives day to day to get ahead. They devote themselves t... More from Altamirano 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