La Garita Group
Update on La Garita GroupVeronica is 20 years old and is married to Florentino. They have a small son. She is part of the La Garita group and says the they chose this name because this is the name of the area where they live. She makes a living selling women's and children's clothing and says that she has had her business for more than two years. It it going very well for her because she sells almost all the clothing that she stocks.
She says that she is going to Mexico City where they give low prices so that she can earn something when she sells them. She says she began this business to help her husband with the household expenses and that her husband helps her to stock and sell the clothing to the wives of his acquaintances and friends.
She is requesting a loan to Vision Fund to continue investing in mallones and pants of mixed styles, blouses and small suits for children. She says that it will serve her well because in this way she will have her business very well stocked. The other 12 members of the group are Carolina, Rosa Linda, Clara, Liliana, Ma Socorro, Rosa, Arizbeida, Silvia, Yessica, Maria de los Angeles, M Natividad y Elizabeth. They will invest in their businesses selling shoes by catalog, clothing sales, seamstress material, a poultry shop, a nutritional club, a hosiery and sewing supply shop and in Mexican snacks.
Previous Loan DetailsThe majority of men in this country unfortunately work very hard jobs that are not well paid because they lack education because their parents could not afford to send them to school. This is the case of Mr. Abel. He is 44 years old and comes from a very pretty and picturesque town, where the... More from La Garita 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