El Aguacatillo Group
Update on El Aguacatillo GroupThis group consists of three industrious members. The group coordinator, Sra. María, is a 42-year-old single mother of two children (ages 22 and 17). They give her the strength and the motivation to succeed. She sells pillows and different fruit seeds at markets across the country. The loan she is requesting will be used to buy materials such as fabric, foam, thread, as well as different seeds, such as cashews. With the other loans she has received, María has been able to make improvements to her home. She is an example of success.
The other members are as follows:
• Sra. Ana is 26 years old is a merchant who sells “pinol” and “pinolillo” (both are traditional beverages made from corn and cacao) on the streets in her community and from her home.
• Sr. Danny is 44 years old and a merchant who sells pillows on order. He also works as a waiter at an eco-hotel in town, which provides additional income for supporting his family.
Previous Loan DetailsThis group consists of three enterprising members. One of them is María Demesia, a determined woman who is 42 years old, divorced, and has two children (ages 21 and 17) who are dependent on her. Her business involves making and selling pillows. She has also been selling fruits and vegetables a... More from El Aguacatillo Group's previous loan »
About ADIMLocated in Central America, ADIM is a small microfinance institution with a strong social focus. In the saturated microfinance market of Nicaragua, ADIM stands out for its emphasis on the holistic development of women as well as its provision of responsible financial services. Founded in 1989 by a small group of Nicaraguan women, this institution has remained true to its initial goal of providing its clients (90% of which are women) with an opportunity for economic growth, in addition to personal and professional empowerment. Supporting an ADIM borrower means contributing not only to the continued offering of the socially conscious services it provides, but also to the sustainable growth of a truly unique microfinance institution.
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
- Repayment Term
- 11 months (Additional Information)
- Repayment Schedule
- Apr 8, 2014
- May 22, 2014
- Currency Exchange Loss:
- Jan 17, 2015
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.