Update on Poetas GroupRodrigo is 30 years old and says that he completed his studies up to the third year at the local high school. After seeing no future in his town, he decided to move a few years later to Mexico City where he enrolled in beauty school and learned the skills of the trade very well. As a young boy, he enjoyed giving haircuts so he chose this career because he saw that it would be a good business. He now has an aesthetics practice in town that he started seven years ago. One of his challenges is being able to pay the rent since the rates have gotten so high. Rodrigo says that he is requesting a loan to buy beauty products such as crèmes, makeup, nail polish for manicures and pedicures, shampoo, dyes, bleaches, and liquid products used on the hair. He indicates that all of the products that are used on his customers are purchased in Mexico City from different stores that offer low prices. This allows him to earn some profit. Rodrigo is married to Sra. Yunuen and has a child in elementary school. One of his dreams is to open a shop in his home so that he can avoid paying rent.
The other group members are Irma, Teresa, Eduardo, Beatriz Elizabeth, Maria Alejandra, Pablo, Janet, and Olga. They will invest their loans in spare parts, seasonal fruits and legumes, styling products, women's clothing and shoes through a catalog, poultry, furs, and groceries.
Previous Loan DetailsIrma is a member of the Poetas group. The members of the group tell us that they chose this name because it is the name of the area where they meet. Irma is 42 years old and has three dependent children. She tells us that she has owned an auto parts store for 19 years. She and her husband b... More from Poetas 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