Barrio La Cañada Group
Update on Barrio La Cañada GroupThe "Barrio La Canada" (La Cañada district) group is made up of eight very hardworking women who all share the same determination to excel in their businesses and support their families. They have known each other for a number of years and during this time they have built up a close and sincere friendship. They live in a Mazahua community where some people still communicate in their native language. Nowadays very few women still wear the typical local dress which is characterized by very bright colors. Something very characteristic of the community where the group is based is its very green pasture land and the beautiful scenery of wooded hills.
Verónica (also called Vero) is a member of the "Barrio La Cañada” group. She is 32 years old, has been married to Esequiel for five years. He works as a civil engineer. Together they have formed a family with two children who attend preschool. Vero has had a grocery store for the past year, which still does not have a name. She says that she wanted to have a grocery store like her father: "When I lived with my father I liked to tend to the store because it everything was sold there and I had a lot of contact with people." She says that she started with very little merchandise, only perishable products like eggs, oils, sardines, tuna, canned beans, detergents, etc.
She did not have shelves or a refrigerator either, and this did not allow her to sell products like ham, cheese, sausages, etc. But, with her savings, with the profits obtained from the sale of her products, she has been able to grow her grocery store. Now she has more merchandise, shelves for her products, and also a refrigerator. Now she does sell all of the products and also can sell cold refreshments which people requested a lot. This time Vero is requesting a loan to buy more merchandise like bread, eggs, milk, sugar, soft drinks, etc.
Her only difficulty is the competition in the same community. However, Vero is not worried because she will continue working very hard in order to have a store just like her father's store. Her father's store has all of the products that Vero is lacking, various things like brooms, mops, dish towels, etc. She says, "This is one of my biggest goals, to have more merchandise, to be able to improve our quality of life, and also to pay for the education costs of our children without worries."
The members of the group are thankful because they will use the loan in their economic activities, which will perhaps help them to improve their profits and expand their business. Irma, Adriana, Marcelina, and María Elsa will invest in their grocery stores, Rosario and María Juana will invest in their sheep, and Ma Rosario will invest in the sale of clothing.
Previous Loan DetailsThe "Barrio La Canada" ( La Cañada district ) group is made up of six extremely hardworking women who all share the same determination to excel in their businesses and support their families. They have known each other for a number of years and during this time they have built up a close and… More from Barrio La Cañada 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