Update on Capulines GroupThe group “Capulines” is located in a remote area and you must go on foot as there is no transportation. It is a large community where the people grow corn. They chose their name because the place where they meet has many capulines (a type of cherry). They are a small group but the people take advantage to do big things such as making capuline atole (a corn-based drink) and capuline tamales. The group Capulines is made up of five women and one man. They are very responsible and above all very hardworking.
The members are seeking a loan from the institution in order to invest it in their economic activities such as Sabina who will buy food for her pigs for breeding and fattening the animals. Esperanza will buy sheep for breeding and fattening. Teresa will buy supplies for her cybercafe. Raul will use his loan to supply his grocery store. Viviana will invest in costume jewelry.
Apolonia who is also a part of the mentioned group is 58 years old. She is a widow who has lived all her life in the community. Apolonia says that she wants to reopen her grocery store as she learned this financial activity from her parents who were engaged in selling groceries. She has a son in the United States who sent her a little money to open her grocery store but not enough and that is why she is asking for a loan in order to buy sugar, salt, soft drinks, eggs, milk, detergents, canned food, etc. Apolonia reasons that, “I had to close the business because at that time all my daughters studied and I could not come up with enough to keep investing in the grocery store.” But Apolonia is very happy because thanks to the loan from Vision Fund and Kiva she can once again have her grocery store. Apolonia’s dream is that her small store is like it used to be before and that she does not have future financial concerns.
Previous Loan DetailsThe group "Capulines" is found in a very remote area that you can only reach by food since there is no transportation to this community. Most of the people here cultivate corn. They chose their group name because where they meet there are a lot of capulines [a type of cherry]. They are a small gr... More from Capulines 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