Los Encinos Group
Update on Los Encinos GroupAlicia is 45 years old, she is part of a group of women who ask for loans and the group is called Los Encinos , She says they named it that because the town is full of encinos [red oaks], although wood cutter have been cutting them down little by little clandestinely. Alicia grow tomatoes and she says that for 6 years she has been working really hard to get ahead in her business. Sometimes she has a lot of losses due to the frosts that come to the community. She says that 3 years ago, she set up a place as a greenhouse where she has her tomatoes so they don't get damaged. Lately, she has obtained better profits although it requires a lot of care and work so the fruit doesn't fall off. She says that she also has some avocado trees, since she has a lot of land. She is asking for a loan to buy fertilizers for the tomatoes and the avocados since they both bear fruit and she wants to earn a little more. She says that she sells by the bushel in the market of Zitacuaro since it is close to her community. The other members of the group are named Eulalia, María del Carmen, María Luisa, Ricarda, Rosario, Sandra, Aurora and María Isabel. They will invest their loans in buying feed for turkeys, and in sheep to sell, to buy materials to make embroidered napkins, fertilizers for growing avocados, pigs, and feed for them.
Previous Loan DetailsRicarda is a hardworking woman. She’s 44-year-old and a widow. She’s a member of the “Los Encinos Ganadería” group. She says they gave it this name because where they live oak trees are common and the ‘ganadería’ part is because most of the members work raising pigs, cattle and sheep. She says… More from Los Encinos 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