Barrio El Riito Group
Update on Barrio El Riito GroupThe group, "Barrio el Riito" is made up of eight women, all of whom are Mazahuas. They belong to the same community, which is very beautiful and interesting because it has various festivals all year, and above all because they preserve their culture like their native language and very colorful dress. They chose the name of the group themselves because of the small river that they live close to. The people in the community use its water for many things.
Elodia is a 24-year-old young woman who is very happy and despite her young age has a great, enterprising spirit. She has been in a free union with her husband Jaime (who works in construction) for 6 years. Together, they have a family with 2 children. Their youngest child is their 5-year-old who hasn't started school yet. They also have an infant.
Elodia has worked raising chickens and turkeys for 5 years. She learned how to raise them from chicks until they become adults thanks to her mother. When she decided to start her own family, she decided to find some way to help her husband with the household expenses and started raising chickens on her own. She isn't able to leave the house to work because her children are young and there is no one else to take care of them.
Elodia is very grateful to Kiva and Vision Fund for the loan because it will allow her to buy her small turkeys and chickens. She will take care of them in her house for 8 months and then either sell them or use them to feed her family to save on food expenses. The only problem that Eloida has is when her animals get sick and die. She thinks that it is often because it is very cold and she doesn't have a coop for them. This challenge doesn't discourage her, however, because these things happen.
Elodia's only goal is to be able to have more chickens and turkeys, since they sell very well during holidays in her community. Elodia mentioned that "I am fortunate to have my own house but I would like to improve it so as to have access to all basic utilities and live better." In addition, one of Elodia's dreams is to pay for the education of her children and allow them to study to have professional jobs.
The members of the group and very happy and grateful to Vision Fund and Kiva because they will be able to invest in their businesses. Tomasa will be able to buy bull calves while Luisa, Rosaura, Pilar, Tomasa, and Antonia are asking for loans to buy sheep. Finally, Herlinda will be able to stock her grocery store.
Previous Loan DetailsThe group, "Barrio el Riito" is made up of eight women, all of whom are Mazahuas. They belong to the same community, which is very beautiful and interesting because it has various festivals all year, and above all because they preserve their culture like their native language and very colorful d... More from Barrio El Riito 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