Update on Sol GroupArgemira is 57 years of age and a widow. She is from Zitácuaro, a town full of history, which lies close to tourist destinations where people go to enjoy themselves or relax. Arge, as she likes to be called, belongs to the Sol (Sun) group. She says that it was her daughter-in-law who invited her to join the group as a means of obtaining better stock for her sweet stall. She says that since her husband died she has been responsible for the household expenses and, although she lives alone, she has to pay for services such as water, electricity and gas, etc. She says that she has 4 children but they are all married. She adds "my children can only help me a little because they also have their families to support. Their help does, however, help me to buy my medication and pay my utility bills".
As she lives close to a high school, a kindergarten and a middle school, she set up her sweet stall outside her house just over a year ago, she says. The children from these schools have become her customers as she also sells soft drinks and fruit juices. This business allows her to help herself and to feel useful since, being visually impaired, she cannot go out and look for work or go out in the street alone. She says that someone who is a great help to her is one of her daughters-in-law who helps her to stock up on sweets in local shops, where she finds low prices and can make some money. She says that this is the second time that she has worked with VisionFund and that it has gone well. She does not feel weighed down by the repayments since she can use her earnings from selling sweets to pay off the loan and continue stocking her stall.
She is now applying for another loan so that she can obtain supplies of sweets of different kinds and flavours and soft drinks. Her goal is to expand her business and next year she wants to sell pencils, crayons, note books of different sizes, rubbers and pencil-sharpeners as a means of improving her quality of life. The other members of the group are called Silvia, Martha, Griselda, Laura Angélica, Argelia, Susana, Karen Alejandra, Karen Alejandra and Estela. They will use the loan to purchase supplies for a stationery shop, ingredients for the preparation of healthy creams to sell, supplies of ladies' underwear and ladies', men's and children's clothing for retail. They will also invest in equipment for an internet café, and will buy in bulk soft drinks to stock up a warehouse and sell wholesale.
Previous Loan DetailsGerardo is 27-years-old and is from a town rich in history where the people are friendly and very warm. He is part of a group called Sol (Sun) and says that he was invited to be part of the group by some friends because they know that he is responsible and has the moral and economic wherewithal ... More from Sol 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