Noche Mexicana Group
Update on Noche Mexicana GroupThe members of this group continue with their work that they are developing. Señora Alicia is 40 and studied until secondary school. She is a single mother with three children: one small girl and two boys who are in elementary school. The members of the group want to tell Kiva and Visión Fund, "thanks for helping us get ahead and keep supporing the people who need it most." She has a sewing shop. She requested her loan to buy fabric, thread, and zippers to supply her shop and have everything necessary to make police uniforms. She started this business 15 years ago out of need. Her sister showed her how to make the uniforms. She went along saving money and bought three sewing machines. Her business is important because this is how she takes good care of her children. She feels proud when she sees her finished products, that the uniforms and dance outfits turned out nicely, and that her customers are satisfied with her work. She uses her profits to buy food, clothing for her children, and feed for her pigs. She is planning to buy an embroidery machine to make logotypes, which she will buy with her savings and with loans. Her hopes and dreams are to have a large shop, to give jobs to other women in her community, and that her children study and have careers.
Previous Loan DetailsThis group is called “Noche Mexicana” and its members are Tita Gloria and Alicia who will use the loan to buy fabric, thread and oil for their sewing machines to make uniforms; Celina who will buy Tupperware at wholesale; María del Rosario who will buy shoes at wholesale; Damariz Fabiola who will… More from Noche Mexicana 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