El Moralito Group
Update on El Moralito GroupMaría Elena is 45 years old. She is from a town which is steeped in history and tradition, where people eat well. Elena is part of a group of people who are requesting loans to improve their businesses. Her group is called Moralito and she says that they named the group after the neighborhood where they meet once a week to make their loan repayments. Elena has participated in several loan cycles with Visión Fund and she says that she likes belonging to this financial institution because it is serious and respects its clients.
Elena grew up helping her parents on their stall selling strawberries and cream, fries, fried pork rinds, pancakes, prepared plantains, different flavors of filled churros, etc. They would set up their stall wherever there were open air markets or public celebrations in surrounding communities and also in their own town. She says that eight years ago she decided to set up her own business so that she could provide for her family. She has two children who are currently in elementary school. Her husband is an employee but sometimes helps her out in her business selling fried food and snacks.
Elena is requesting a loan to buy the supplies she needs to make her snacks. She says that she will buy flour, sugar, cream, plantains, condensed milk, evaporated milk, eggs, caramel, different flavors of jam, chocolate, strawberries, gas, potatoes, oil and other products. She says that her dream is to increase the size of her stall a little because sometimes she is unable to fit in everything that she sells. She would also like to buy a slightly larger refrigerator to put her products in so that they don't go off.
The other members of this group are called Juana Guadalupe, Rosa Isela, María Felicitas, Oliva, Ana Laura, María Virginia, Ana Lilia, Beatriz, Pablo and María Isabel. They will invest in their businesses selling perfumes and cosmetics through catalogs, selling underwear, baking bread to sell, running a grocery store, making snacks and deserts, and selling toys.
Dice que desde hace 8 años decidió poner su propio negocio para también ella sacar adelante a su familia, tiene dos niños los cuales estudian la primaria y su esposo es empleado pero a veces le ayuda a ella en el negocio de las frituras y antojitos. Elena esta pidiendo un crédito para la compra de los insumos que ocupa para hacer y realizar sus antojitos dice que comprara harina, azúcar, chantillí, plátanos, leche condensada, leche evaporada, huevo, cajeta, mermelada de diferentes frutas, chocolate, fresas, gas, papas, aceite, entre otras cosas. Platica que su sueño es hacer un poco mas grande su puesto ya que a veces no le caben las cosas que vende, ella también quisiera comprar un refrigerador un poco mas grande para meter sus productos y que no se le echen a perder. Los demás integrantes del grupo se llaman Juana Guadalupe, Rosa Isela, María Felicitas, Oliva, Ana Laura, María Virginia, Ana Lilia, Beatriz, Pablo y María Isabel, ellos invertirán en sus negocios de venta por catalogo de perfumería, cosméticos, surtir ropa interior para su venta, para la compra de insumos para elaborar pan para su venta, para surtir una tienda de abarrotes, para la compra de insumos para elaborar antojitos y postres, para la compra de perfumería, cosméticos por catalogo y para compra de juguetes para su venta.
Previous Loan DetailsOlivia is 50 years old and from the community called Coatepec. She has been a member of the La Cabañita group for several years and her bakery business has improved because of the loans she’s gotten. She says that she makes bread every day and delivers it to different stores in her community. ... More from El Moralito 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