Las Lupitas Group
Update on Las Lupitas GroupThe group "Las Lupitas" consists of five enterprising, cheerful, and hardworking women. Magdalena is one of the women in this group. She is 20 years old and studied through high school. Magdalena is a single mother with a young daughter. Since becoming a single mother, Magdalena says that she has had to work hard to help her daughter get ahead. She has been selling cosmetics for a little more than three years. She started out by displaying her catalogs and selling her products to neighbors. As time went by, she gained many customers from all over her community. Magdalena says that she greatly enjoys her business because the walking that is required has allowed her to meet many people. The revenue she generates has helped her daughter to move forward. The best part of her job is that she is able to have her afternoons free.
Magdalena will invest her loan in the purchase of various crèmes, nail polishes, lipsticks, eye shadows, and eye liners, as well as catalogs so that she can continue making sales. She wants her business to continue growing. Every time she gains more customers, her income increases and she is able to provide her daughter a better quality of life. Magdalena also wants her daughter to study for a profession and to know that the only way to accomplish this is through hard work.
The other members of the group are as follows:
• Virginia raises and sells cattle.
• Maria Elena sells clothing.
• Victoria sells food.
• Lourdes sells perfumes.
Magdalena invertira este credito en la compra de variedad de cremas, esmaltes, labiales, sombras, delineadores y catalogos para continuar realizando sus ventas.
Magdalena desea que su negocio continue creciendo y cada vez tener mas clientas para que sus ingresos aumenten y asi poder dar una mejor calidad de vida a su hija, tambien desea que su hija en un futuro pueda estudiar una profesion y sabe que solo lo lograra trabajando duro.
Las demas integrantes del grupo son:
Virginia cria y venta de ganado
Maria Elena venta de ropa
Victoria venta de comida
Lourdes venta de perfumes
Previous Loan DetailsThe group "Las Lupitas" is made up of 6 very happy and hardworking women who work each day in their own businesses to get ahead with their families, and provide a better quality of life and education to their children. Maria Elena is one of the members of this group. She is 30 years old, and… More from Las Lupitas 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