Un Nuevo Resplandor Group
Update on Un Nuevo Resplandor GroupAmulfa is a happy, enthusiastic and hardworking woman who is 38 years old. She is married to Federico, who is a day laborer, and they have 2 children. One of their children is in high school and the other attends middle school. Amulfa belongs to the communal bank named "Un Nuevo Resplandor" (A New Radiance). She says that they gave the group this name because the loans have really helped them out a lot. She says "thanks to the Vision Fund, my business and the businesses of my fellow group members have improved because we have capital to invest and put to work. This way we can pay off the loan and also improve conditions for our families. I thank the lender in the name of my companions and myself for helping us."
Amulfa says that she has been making embroidered garments for 12 years. She started out making napkins, but later the people in her town were seeing the pretty things she was making, and how well-embroidered they were, and they started making orders with her. She decided to start to sell in her town, and then later she was selling in the markets in the communities surrounding her town. In addition, she raises turkeys and sheep.
Amulfa says that she is requesting a loan from Vision Fund to buy material such as marquesa fabric, embroidery hoops, needles, ribbons, yarn, thread, hooks and thick yarn to make scarves, hats, and other knitted items for the winter season. This is when she sells the most of these types of garments. She says that a year ago, she made winter garments and the sales were very good, especially the sets of scarves, hats and gloves. She says that she buys her raw materials in different stores in a nearby town.
The other members of this group are named Feliciana, Maria Marcela, and Pascacia. They will invest in their businesses cultivating maguey catci to extract "aguamiel" (a beverage), buying supplies to make embroidered handicrafts, and buying animal feed so that they can raise sheep to sell.
Previous Loan DetailsFeliciana is 38 years old. She is married to Saúl, who is a builder, and has three daughters: Berenice (a high school student), Marlene (an elementary school student) and little Guadalupe. Feliciana tells us that she buys maguey cacti so that she can extract 'aguamiel' (a non-alcoholic drink).… More from Un Nuevo Resplandor 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