Update on Cabecera GroupThe group “Cabecera” consists of seven men and two men. All of them are hardworking and responsible individuals. They live in a small peaceful community.
Doña Angela is a member of this group. She is an elderly woman who is 63 years of age, but this does not keep her from continuing her work of raising sheep. Doña Angela is married to Sr. Gregorio and they have a family that includes seven children, none of whom are dependent on them. She has been raising sheep for 15 years. Doña Angela says, “I started raising sheep because my husband has always earned a meagher salary. There have been many times when we were not able to cover household and educational expenses.” Five years ago, she increased the number of sheep in her herd. Doña Angela bought some lambs to raise and then some time later she sold them to people in her community who prepare barbecue. This time, she is requesting a loan so that she can buy four more lambs.
Doña Angela indicates that she enjoys raising sheep because it is a good way of resolving some of her financial problems. She has never had any difficulties in this line of work since she provides the sheep plenty of care. Doña Angela’s goal is to acquire more sheep to the point that her husband can stop working and live peacefully without any financial worries.
Doña Angela and the rest of her group are very content and appreciative of the loan provided by VisionFund Mexico so that they can invest in their business activities. Elizabeth and Diana will invest in sheep. Arturo will invest in his blacksmith shop. Julia and Guadalupe will invest in bedspreads and bed sheets. Benita sells tortillas. Victoria sells clothing. Ulises sells pastries.
Previous Loan DetailsThe group "Cabecera" is made up of 9 women who are all very hardworking and responsible. They live in a community called Cabecera, a very small and tranquil place that gave the group their name. Guadalupe, the group's representative, is 43 and married to Raimundo. They've been together for 23... More from Cabecera 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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