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May 20, 2016 7:32 EST

Guatemala – Pacanal L B, 1 Group: A portion of Pacanal L B, 1 Group’s $1,325 loan helps a member to buy agricultural supplies and to pay for maintenance on his coffee plants.

iCrowdNewswire - May 20, 2016

Pacanal L B, 1 Group

 

Solola, Guatemala Green | Agriculture | Agriculture

 

Pacanal L B, 1 Group

 

A portion of Pacanal L B, 1 Group’s $1,325 loan helps a member to buy agricultural supplies and to pay for maintenance on his coffee plants.

Update on Pacanal L B, 1 Group

Santos is a very hardworking and conscientious person in his work. He has been working in agriculture for many years. He says that, thanks to his loan, he was able to plant his maxan crop [leaves for wrapping tamales], and was left with a good harvest. He was able to buy half a plot of land with his earnings, and his crop has now increased because right now he is dedicated to cultivate coffee.

Santos is a person who doesn’t hold back when faced with obstacles in life. With a desire to keep increasing his crop, he has decided to ask for a loan to invest in the purchase of agricultural supplies and payment for the maintenance of his coffee plants, because this type of harvest is more profitable and its permits Santos to have more income.

Santos has placed all of his hopes in this loan, so that in this way he can improve his family’s living conditions.

 

 

Previous Loan Details

Santos (the first on the right on the photograph in the red top) is a modest man who is 60 years old. He is single and has two children between the ages of 16 and 19. They live in a community in Nahualá. His family is very important to Santos and to give them the best he makes a living selling m… More from Pacanal L B, 1 Group’s previous loan »

Additional Information

More information about this loan

 

About ADICLA

ADICLA (Association for the Holistic Development of the Basin of Lake Atitlán) is nonprofit rural community development association that provides small loans and services to improve quality of life in two of the poorest regions of Guatemala, home to large indigenous populations. Kiva funding will be used to support three innovative credit initiatives: youth business loans, green loans, and smaller loans to help ADICLA move down-market and serve poorer clients.

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

 

 

 

Contact Information:

Pacanal L B, 1 Group

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