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Los Portales Group
In this Group: Jessica , Ada Luz , Teodora , Mirna

Update on Los Portales Group

The name of their municipality derives from the Chinanteca vocabulary 'Ocotl-cana' and 'de Tlan-junto a' or 'among', and it signifies 'together' or 'among the canes'. This is a sugar cane raising community by tradition.

In this locality a group called “Los Portales” was formed; it's composed of 4 very hard-working women dedicated to these activities: Ada and Teodora sell cosmetics from catalogs; Mirna and Jessica sell shoes from a catalog, and Jessica also purifies water.

Jessica is a very hard-working and charismatic person. She has 2 children, studied into preparatory school, and is married to Jorge Luis. Together they have established a water purification plant. With their earnings, they cover their household costs, transportation, maintenance of their work tools, and the salaries of their employees. At the same time, Jessica also sells shoes by catalog among her friends and fellow workers.

She is grateful to Kiva and Vision Fund Mexico for the opportunity to obtain this loan, which will be invested in 5-gallon jugs, tops, bands, and labels, supplies that they lack in the purifying plant. The number of their customers has increased, which is very favorable and satisfactory.
View original language description ↓
El nombre del municipio proviene de los vocablos chinantecos Ocotl-caña y de Tlan-junto a o entre,y significa junto o entre las cañas y es una comunidad cañera por tradición.

En esta localidad se formo un grupo llamado “Los Portales” el cual esta integrado por 4 mujeres muy trabajadoras cada una de ellas se dedica a una activad.

Ada-venta de cosméticos por catalogo, Teodora-venta de cosméticos por catálogo, Mirna-venta de calzado por catálogo y Jessica-calzado por catálogo y purificadora de agua.

Jessica es una persona muy trabajadora y carismática, tiene dos hijos, estudio la preparatoria, esta casada con Jorge Luis. Juntos han establecido una planta purificadora de agua, con las ganancias solventan los gastos del hogar, de transporte, mantenimiento de la herramienta de trabajo, sueldo de los empleados, de igual manera Jessica vende calzado por catalogo con sus amistadades y trabajadores.
Ella da las gracias a Kiva y a VisionFund México por la oportunidad de obtener un crédito que invertirá en garrafones, tapas, bandas y etiquetas, material que les hace falta en la purificadora pues el numero de clientes ha incrementado lo cual es muy favorable y satisfactorio.

Previous Loan Details

“Los Portales” (The Portals) is a group of four, hardworking, cheerful, kind women. Each one of them carries out an economic activity to give their families a better quality of life. Miriam sells shoes, Silvia sells clothes, Maritza has a pharmacy and Ada Luz sells cosmetics. The group is loc... More from Los Portales Group's previous loan »

Additional Information

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.

Tags

About Mexico

  • $15,600
    Average annual income
  • 19
    View loans »
    Mexico Loans Fundraising
  • $18,749,475
    Funds lent in using Kiva
  • 13.0
    Mexico Pesos (MXN) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A portion of Los Portales Group's $2,950 loan helped a member buy 5-gallon plastic bottles, caps, bands, and labels.
99% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 18, 2014
Listed
Jul 9, 2014
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014