Union Y Amistad Group
Update on Union Y Amistad GroupMarisol is 23 years old and married to José, and they have two children. He works in the construction industry in Mexico City.
She is part of the group Union y Amistad [Unity and Friendship] and says that they chose this name for their group because they are very united, and when someone can't make their payment, they help each other to be able to get the payment and not lose face.
For more than four years she has been selling baby clothing and women's underwear, as well as stockings and women's socks. She says that this business took root when she saw that the women who come to her mother-in-law, who is a midwife, for an emergency consultation for help giving birth, they didn't come prepared with clothing for the baby or for themselves. They weren't ready. So it occurred to her to start selling baby clothing like small blankets, diapers, pants, bibs, baby outfits, rompers, and socks, and women's panties, pants, jackets, shoes and sanitary napkins that are used when they're going to give birth. She says that she likes her job a lot, because this way she can be devoted to her small children.
She stocks up on clothing in the cities of Toluca and Mexico in different stores where they give her lower prices, so she makes a better profit.
She is requesting a loan from Visión Fund in order to grow her business a little more, and already even neighbors from her community come and buy socks for their children's school from her. Marisol says, "I like what I sell because this way I can contribute something and I can buy what I want for my children, and help my husband with the bills. Also I'm happy to belong to this group and already I have done several cycles; they always treat us very well and have the lowest interest rates."
The other six members of the group are Lidia, Ofelia, Fabián, Gilberta, Sandra and Juan Carlos. They will invest in goods for different purposes: to sell in a school store; in the purchase of surgical material and medicine for sale; for the purchase of feed and lambs; for the purchase of fertilizer and peach and avocado plants to grow; and for the purchase of seasonal fruits and vegetables to sell.
Previous Loan DetailsGilberta is 54 years old and is a hard-working woman. Her job is very unusual, as she has been a midwife for more than 18 years. She says that she learned on her own and little by little perfected her techniques. She is recognized by Mexico's social welfare institute, which has given training to… More from Union Y Amistad 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