Update on Altamirano GroupThe “Altamirano” group consists of six people, all very hardworking women. It’s a group that likes to socialize and is noted for the great friendship that exists among them. The members of the group relate that they chose the name themselves because there was an animal farm called “Altamirano” in the zone where the group first became organized and where they usually met.
María Isabel, 40, is a member of the group. She’s married to Martín who works as a field hand and they’ve formed a family together; they have a son who is now attending school. Isabel is very young but at her young age she works raising and selling pigs. Isabel commented: “Ever since I was a girl my father encouraged me to care for these little animals; he’d tell me that it was a good way to help my husband with household expenses.” Isabel has been in her activity for three years and she likes it very much, even more so when they are big and she can sell them although one of the difficulties for selling them at a good price is that often the hard work and effort that went into raising them isn’t valued.
Isabel buys the animals when they are little and cares for them for a few months. It seems that feed for pigs is very expensive but without it her little piglets won’t be able to grow big and strong. This time she’s asking for the loan to buy four pigs that she intends to sell whenever her family faces any economic problem like the one they are living through at present: her little boy has a strong eye infection and expenses are greater.
Isabel commented with a smile: “I’d like to have better quality of life for my little boy so that someday he can have a good job and not suffer from any wants.” Isabel is sure that she’ll be able to continue raising piglets to help her husband with household expenses.
All the group members are very happy and grateful because each one of them will be able to invest in her business. Patricia, Jessica, Alberta and Elvira will invest in pigs and Teresa in sheep.
Previous Loan DetailsThe group Altamirano is made up of 8 people all of whom are very hard working women. It is a group that like to live characterized by the great friendship that is between them. The members of the group talked among each other and chose the name because of where the group began and where they met,... More from Altamirano 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