La Semillita Group
Update on La Semillita GroupKaren is 19 years old and is an original member of the community called "la venta". She was only able to study until third grade as she lacked the resources due to her family having other children who were also studying. This is why she started her business of selling home items from a catalog. She sells the items to her friends and acquaintances because she trusts them to pay the installment plan of her business. She is currently seeking a loan from Vision Fund to purchase quilts, comforters, sheets, blankets, curtains, and towels on behalf of her customers' demands. She also plans to sell to the teachers of her community because they have stable jobs and are paid twice per month. She goes out daily to sell her products and she is very proud of having her own business that generates money so she can pay to continue her studies. The other nine members of the group are María Balbina, Rosa, María Isabel, María Santos, Edith, José David, María Guadalupe, Diana and Rosa. They will invest their loans in their respective businesses such as clothing for men, women, and children, a shoe catalog, fried goods, candy, beverages, unisex clothing material, phone accessories, items for a small grocery, and jewelry.
Previous Loan DetailsMrs. Rosa is 51 years old and is married to Mr. Lucindo, with whom she has four children. All of her children are married and live with their famiies. Mrs. Rosa is part of a group called “Little Seeds”. Why they chose this name is because they are a new group and they hope to have a good “harvest... More from La Semillita 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