Nuevo Amanecer Group
They chose their group name themselves as it signifies a new start for them, they were working with a different microfinance institution previously, which was why they were encouraged to work with VisionFound and KIVA.
Noelia, 33, is a group member and has been married to Delfino since she was 18. Together they have five children, all of whom are currently in education.
Noelia has been baking bread for a living since she was 18, as her husband Delfino is also employed in this trade. It seems that the business was originally started by Delfino's father.
They are requesting this loan to buy ingredients for making bread like flour, eggs and milk, etc. The four members claim that, in general, the greatest difficulty that they face is when they go to markets to sell their goods and find that there is no place for them or that it is too expensive. Noelia comments "I really enjoy making bread, as it is a family tradition and we do not want to lose the breads that we make. Ours are orange, walnut and vanilla, although we also make cream gorditas."
Despite the difficulties that Noelia faces, her goal is to provide her children with a better future, so that they can finish their education, and to make some repairs to their home.
The other group members are Aurelio, Joel and Delfino who are also requesting loans from the institution to buy ingredients for making bread. They are very happy and grateful to VisionFound and KIVA for the offered loan.
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