Nueva Realidad Group
Update on Nueva Realidad GroupLidia is 47 years old and comes from Curungueo. She is married and has 2 children, one who is in high school and the other is in elementary. Lidia is part of a group called Nueva Realidad ( New Meaning ) and says the group obtained its name because it would create new meaning through the loans and they have helped improve and stabilize her economic standing along with her business. Lidia has been buying and selling clothing for more than 20 years ranging from women's clothing, men and children's clothing and she states she purchases in Mexico and Toluca because she gets more competitive pricing and can later recover a profit. She states that she started the business in order to help her husband with the household expenses and the children's education. She asking for the loan to purchase clothes like: men's shirts, women's jeans, blouses, suits, children's sets, shorts, shirts, etc.. She allows installments to clients she trusts and knows they have a steady income from which they can pay from quickly and not default. She also has a goal of selling shoes through catalog and women's accessories like: bracelets, earrings, necklaces, and hairbands decorated with fine stones. Since she began working with Vision Fund her business has improved due to the loans allowing her to purchase better quality clothing to sell.
The other three members of the group are: Angelica, Francisco, and Maria Raquel who will invest their loans towards their businesses of selling second-hand clothing, purchasing consumables to make mexican snacks, and to stock on catalog sheets and perfumes.
Previous Loan DetailsAngélica, 29, is married to Juan Carlos and they have two children one of which is attending pre-school. She relates that she used to have a grocery store in her locality six years ago but had to close it because many people failed to pay her and she earned no profits to restock her little… More from Nueva Realidad 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