Banco De Piedra Group
Update on Banco De Piedra GroupPatricia belongs to the Banco de Piedra group. She is 37 years old and is married to Mario. They have been together for 15 years and they have three children who attend school. She sells clothing and shoes by catalog, a business she has had for six months. Previously, she sold cosmetics and says that business was going well but customers asked for other products, like clothes and shoes, so she decided to change products. This time, she is requesting to buy more shoes. Paty, as her friends call her, comments that she likes to socialize with people. Every afternoon, she goes to sell from house-to-house. She says she already has good customers because they come to her house asking for products. Her only difficulty is when her clients are behind in their payments but they end up paying eventually. Paty's goal is to be an entrepreneur with the Avon company, a huge network of people that have achieved more profits and a higher quality of life.
The members of the group are Teresa, who sells cosmetics; Laura, Francisca, Basilia, and Rosa who will buy lambs; and Maria Albertha who will invest in her grocery store. The group "Banco de Piedra" [Stone Quarry] consists of 7 people located in a pleasant community in which people usually are dedicated to growing corn. The name of the group was chosen because they live in a community where there is a stone quarry which they use for constructing their homes.
Previous Loan DetailsThe group "Banco de Piedra" (Stone Quarry) is made up of seven members. They live in a very quiet community where the people generally make a living by growing corn. They chose this name for their group because where they live there is a stone quarry from which they quarry stone to build their ho... More from Banco De Piedra 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