Familia Toribio Group
Update on Familia Toribio GroupThere are only three members in the 'Familia Toribio' [Toribio Family] group - two women and a man. They are relatives and they live in a community where the people are characterized by being very hard-working and responsible.
Gaby is one of the members. She tells us she is 37 years old and has been married to her husband Lucio since she was 21. Together they have three children. Two of them are studying and the youngest doesn't go to school yet.
Gaby is a very hard-working person. She works making tortillas but also looks after the grocery shop that her sister Magaly has passed on to her. Gaby says that this time she is applying for a loan to buy corn and products like bread, eggs, milk, soft-drinks, sugar e.t.c To stock her grocery shop by making tortillas has already taken a year and the shop has been going for the same amount of time. Gaby said she wanted to start by making tortillas because she wanted to help her husband with the household expenses.
Gaby said, 'I really like my work and more when there are profits, only at this time I haven't been doing so well considering that at the moment people have corn that they harvested at the end of the year. So right now I wont do well with the profits of tortilla sales, although it's only for a period because half-way through the year people find themselves with no corn and so start to buy tortillas. But I will work harder in the shop to make up for it regarding the profits.'
Gaby's goal is to gain more customers to increase her profits so she will be able to offer her children a better quality of life. Just like Gaby who has dreams, the other members of the group are applying for loans to invest in their businesses. Doña María will invest in the sale of tortillas and vegetables and Luis Enrique in the grocery store. They are very grateful for and happy with the support given by the institution and KIVA.
Previous Loan DetailsThe Toribio Family lives in a very quiet community where the people are very friendly and sociable and are usually very cheerful. The three members of the group all belong to one family and they have never worked with a microfinance group before. As a result they were a little nervous after havin... More from Familia Toribio 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