El Atardecer Group
Update on El Atardecer GroupThe “El Atardecer” (Dusk) group has been working with the institution for several loan cycles, although it has gradually increased the number of members. The members say that they chose this name, as they were taking a very long time in deciding it when it began to get dark, and someone proposed the name.
Francisca is a member of the group, and is commonly known as Mary. She is 40 years old, and has been married to Gustavo for 20 years. They have created a family, with two daughters; one of them still at university. Mary has had a grocery store for 15 years, and started it because she wanted to help with the household expenses.
Mary says, "I started selling candy outside my home, just at a small table where I put various types of candy, but gradually I started selling more products such as eggs, milk, bread, etc. The ladies bought these products, and the candy sales were going well, as each time the children passed by they would buy. With time, we decided to set up a shop, now better established, and thanks to the loan, I have been able to build it up little by little."
This time, Mary is requesting the loan so that she can stock her grocery store, as with the loan she has been granted she will be able to buy more milk, eggs, bread, cooking oil, beans, lentils, etc. One of Mary's difficulties is lack of money to be able to continue investing more in her grocery store, because many times the merchandise runs out very quickly, especially the products used daily.
In spite of the difficulties Mary has to overcome, her dream is that her small store can eventually become a large minimart. That way she will be able to cover her daughter Bianca's education expenses, so that she can finish her degree in communications.
Along with Mary, the other group members also have their activities: Inés will also invest in her grocery store, Victor and Eva will invest in shhep, Mónica and Maricela will invest in the sale of clothing, Graciela will invest in candy, and finally, Ángeles will invest in her recycling center.
The entire group is very happy and grateful for the successes obtained in their families and businesses, thanks to the credit that VisionFund and Kiva grant them.
Previous Loan DetailsThe “El Atardecer” (Dusk) group is composed of 9 women and one man; all are very responsible, hardworking people. Angélica is one of the El Atardecer group members. She’s 32 years old and is currently living with David who works as a bricklayer; they have four children three of which attend e... More from El Atardecer 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