Update on Sol GroupGerardo is 27-years-old and is from a town rich in history where the people are friendly and very warm. He is part of a group called Sol (Sun) and says that he was invited to be part of the group by some friends because they know that he is responsible and has the moral and economic wherewithal to pay a loan back. He has a carpentry shop and makes furniture to sell like tables, chairs, picture frames, cabinets, benches, beds, dressers, and many other kinds of furniture. He says that he is requesting a loan from the organization to buy materials to make his furniture. He would like to buy wood, glue, varnish in different colors, nails, wall anchors, handles, panels, etc. The furniture he makes, even that in his house, goes to be sold as he has customers who sell them in other parts of the state. His business is a family business as he works with a cousin who taught him how to make furniture. One of his goals is to open his own carpentry shop and to buy the machines he needs to make his furniture. The other 11 members are Silvia, Martha, Griselda, Laura, Argelia, Susana, América, Karen Alejandra, Emanuel, Gloria Patricia, and Narcedalia. They will use the loan to buy items for a stationery store, for a nutritional club, to buy underwear through a catalog supplier, to buy women’s and men’s clothing, to buy supplies for selling tacos with steak, sausage, and tripe, to buy bedspreads and sheets from a catalog supplier, to buy seasonal fruits and vegetables, to buy sodas to sell in a store, to buy materials for a sewing workshop, and to buy supplies for a grocery store.
Previous Loan DetailsAnayeli is a hardworking woman. She is 23 years old and has two children. Her older child is a four-year-old preschool student and her other child is only a year old. Ana, as she is known to her neighbors and relatives, has managed a grocery store for approximately one year. She says that she... More from Sol 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