Check out other loans that are currently fundraising!
Aguacatal2 Group
In this Group: Evaristo , Miguel, Martín
Evaristo, who is a member of this group, lives in the community of El Aguacatal in the state of Campeche. He is 47 years old and has inherited the trade of harvesting goods such as corn, beans and a local vegetable called “chigua”. These last two goods are only harvested once a year, which means he has temporary income. In the past year he was able to buy a solar system that he charges with old car batteries. These require charging in the nearest town, which has a great cost for the family. By acquiring a new solar home system, Evaristo's family will be able to have a better lighting source that only requires a single battery and has two light bulbs. Also, since Evaristo became a father 9 months ago, he has increasing concerns for a sense of security that only a good lighting source can provide.

Additional Information

About ERES Energía Renovables

ERES Energía Renovable is a hybrid social enterprise that provides clean energy via solar-powered home systems in off-grid communities in Mexico. Kiva loans enable low-income households to purchase these systems. By lending to borrower groups that cross-guarantee each other, ERES Energía Renovable is able to reach far more borrowers who do not have the collateral or credit history to get a loan from a formal financial institution.

This Kiva loan will be used to provide borrowers with needed goods or services, as opposed to cash or financial credit.

ERES Energía Renovable joined Kiva through our Experimental Partnership Program, and has therefore received a lighter level of due diligence. Accordingly, loans associated with this partner carry a higher level of risk than typical Kiva loans.

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.

Tags

About Mexico

  • $15,600
    Average annual income
  • 19
    View loans »
    Mexico Loans Fundraising
  • $18,764,650
    Funds lent in using Kiva
  • 13.1
    Mexico Pesos (MXN) = $1 USD

Success!! The loan was 100% repaid

A portion of Aguacatal2 Group's $525 loan helped a member to improve his family's lighting source by purchasing a clean energy solar home system.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 27, 2013
Listed
Sep 16, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014