Update on Noyolot GroupThe new group members are Miriam who will use her loan to buy manure and insecticide; Valentín who is going to buy pears, plums and walnuts and Mario who will buy soap, oil, sugar, Sabritas brand snacks, cookies and soft-drinks. The rest of the group members continue with the activities they’ve been carrying on.
Flor, 38, is married; her husband is a carpenter. They have two older sons who already work. She has a carpentry shop and asked for her loan to buy lumber and a hand-held power saw for her shop.
She manufactures wood furniture, beds, tables, dining sets, doors, windows, etc. – whatever the customer requests. She started the business 28 years ago. It was passed down from her father who taught her husband to make wood furniture. The business is important because she earns income to support themselves. She feels proud to be continuing her father’s business and being her own boss. Her business is popular because she works only with good quality wood. Her dreams and hopes is that the carpentry shop grows, to buy some large pieces of machinery to complete the shop and that her children learn carpentry.
The group members want to say to Kiva and to Fundación Realidad: “Many thanks for your loans. You are very kind to help our business and our families to grow.”
Previous Loan DetailsNOYOLOT GROUP (FLAT) The group is called noyolot, which in the Nahuatl language means “my love”. The town is situated in the highlands of Morelos in the municipality of Volcano Tétela where seasonal fruit is harvested almost year-round. The 5 members of the group are: Flor E. Pérez, Yolanda… More from Noyolot 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