Update on Granada GroupThe communal bank “La Granada” comprises several women and one man from the small, peaceful town of Dolores Hidalgo. The members are united and have been responsible in their dealings with the institution. Though one of the members, María Altagracia, is 80, she works very hard. She is a widow and the mother of 12 grown children. For 60 years, she has been raising chickens and turkeys, a trade she learned from her mother. She makes traditional skirts, which are part of her community's culture, and she sells detergent.
Altagracia travels to the city to buy merchandise to sell in her town, but she prepares the detergent herself with the chlorine she buys. She has applied for a loan to buy chlorine, which she will use to make detergent. Neighbors come to Altagracia's house to buy both chlorine and detergent. She says she used to sell linens in other towns, but, at her age, it's hard to travel. She says she doesn't face any particular problems in her businesses. She does her work enthusiastically to keep her long-time customers and to have some income to pay her household expenses. She lives alone.
Altagracia's single dream is to keep working and keep the businesses she enjoys going. She is very grateful to Kiva and Vision Fund for the funding that has helped the members, Eulalia, Blanca Estela, María Severiana, Isidro, and Yolanda, grow their businesses. They will use this loan to raise animals such as chickens, turkeys, and pigs. Ofelia has a small grocery store.
Previous Loan DetailsThe “La Granada” group has five female and one male members. This group is in the community of Dolores Hidalgo. It is a very small and quiet community. The group has always been very united and responsible with the institution. Elda is the group’s representative. She is 34 years old and has lived… More from Granada 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