La Cabañita Group
Update on La Cabañita GroupAlejandra, 41, belongs to a group called “La Cabañita” (The Little Cottage) and says that her cousin invited her to join the group that works with Visión Fund asking for loans to improve their businesses aiming at improving their families’ quality of life. She’s a very hardworking, cheerful woman.
Ale, as she’s affectionately called, sells bedspreads, shoes and clothes for women and men by catalog. She says she started this business to help her husband with household expenses since she has four children and was unable to work outside the home because her grandmother also lives with her and she’s not well and she must take care of her. She says that’s why she decided to start her own business so she could stay and care for her home.
She gets her children ready for school in the morning and then makes breakfast for her grandmother and for her since her husband leaves for work very early in the morning. She does her cleaning chores and then heads out to sell bedspreads house to house; sometimes her customers come to her house looking for her to order something or other.
She says that she gets the things she sells from authorized suppliers in the city of Zitácuaro so she can get better prices. At the moment, she’s asking for a loan to fill some pending customer orders. She comments that this is the month when sales are highest because of Mother’s Day, Teacher’s Day, Student’s Day and the end of the school term; people take advantage of this to give gifts and they come to her to buy shoes and clothes. This is why she wants to be well-stocked right now. Alejandra thanks VisionFund for the trust they’ve placed in her and for giving her loans to improve her business thus helping her husband, children and grandmother.
The other group members are named Consuelo, Florentina, Esperanza, Tomasa, Blanca Estela, Maricela, Martha, Liliana, Reynalda and Sofía. They will invest in their businesses which are: silkscreen shop, grocery store, Mexican fast-food snacks, bread baking, fine and costume jewelry making, vehicle repair shop and feed for fattening up chickens for subsequent sale.
Previous Loan DetailsSofía is 79 years old, and even though she is a woman of very advanced age, she has a zest for living. She sells chicken outside her home every day. She says there is a young man who carries the chicken to her home, as she lives a bit far from where they sell it. She says that she sells dres... More from La Cabañita 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