Barrio La Cañada Group
Update on Barrio La Cañada GroupThe group “Barrio La Cañada” consists of eight women. All of them are hardworking and possess the drive to succeed in their businesses and to help their families get ahead. They have known each other for several years and over time they have established a great and sincere friendship.
These women live in a Mazahua community where some of the people communicate in their indigenous language. A few of the women still wear traditional garments that stand out because of their bright colors. Other things that their community is known for are the green pastures and lush vegetation that exist against a backdrop of beautiful rolling hills.
Adriana, age 27, is a member of this group. She only has a high school education and is always known for being cheerful and in very good humor. Adriana and her husband Ángel are in a common-law relationship. He works as a bricklayer and the two of them have formed a family that has five children, two of whom are in school.
Adriana has managed a grocery store for the past five years. This time she is requesting a loan in order to buy more grocery products such as bread, eggs, milk, soft drinks, canned goods, and other items. She says that she opened her grocery store because there were no other places to buy products in the area where she lives. Thanks to the loans, Adriana says that she has been able to maintain her grocery store and acquire a little bit of everything so that she can keep her customers happy with her service.
Adriana’s business is doing very well. Every day she is able to generate a good amount of revenue from her sales. Her only challenge she faces now is the competition from other stores nearby. However, she is not discouraged by this situation. On the contrary, she wakes up early every day so that she can begin working. Adriana hopes that her revenues don’t decline because her only ambition in life is to have a larger shop and convert it into a variety store.
Adriana says, “My greatest wish is to help my children with their studies since I was not able to continue my education.” The members of this group are grateful because the loan will keep their businesses going and allow them to expand, as well as increase their profits. Doña Irma, María Elsa, Verónica, and María Juana will invest in their grocery stores. Rosario and Ma Rosario will invest in clothing. Marcelina will buy chickens.
Previous Loan DetailsThe "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… 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
- Repayment Term
- 6 months (Additional Information)
- Repayment Schedule
- Feb 12, 2014
- Mar 10, 2014
- Currency Exchange Loss:
- Jul 17, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.