La Huerta Group
Update on La Huerta GroupLa Huerta is a group that has worked with VisionFund and Kiva for several cycles. The group members are very hardworking and responsible people characterized by their happiness and their good friendships with each other. They say they chose the name of their group "because we used to meet in a huge garden where there was a lot of fruit, such as apples, pears, figs, lemons, etc. But look where we are now."
The members of the group are very grateful to and happy about VisionFund and Kiva because they'll be able to invest in their jobs. Reyna will buy bedspreads and blankets, Petra and Alma Jazmín will buy crafts, Ángela will invest in painting napkins, and, finally, Victoria will invest in her sheep.
Francisco, who's also part of the group, says he's 35 years old and has been married to Isabel for 15 years. Together they formed a family with two children who are students. Francisco has a jewelry business. He makes a living selling jewelry such as earrings, bracelets, pendant earrings, chains, watches, and bangles. He makes repairs in the same jewelry business. He sells athletic t-shirts, stuffed toys, gifts, etc.
He says he started his business five years ago because one day his wife dreamed they were selling gold. One day when they were on a trip to Zitacuaro they bought gold and his wife sold it to her friends, and they saw that it worked out well so Francisco decided to set up a jewelry shop. Previously he was the manager of a gas station. He says he liked his job a lot but that the schedule was difficult; he even had to work on the weekends. This affected his family life with his children and his wife because he hardly saw them.
Francisco says that with his severance pay he had the money to set up a small shop where he began selling with only two trays of jewelry. In time it improved a lot because he learned to do repairs, and now it's going very well for him. Francisco's very happy with his business: "Now, with my jewelry shop, I lead a much more peaceful life without stress. I can manage my schedule and spend the majority of my time with them (his family). I can even go out on the weekend, which wasn't possible before because of my job. I can open and close whenever I want."
Francisco has no problems with his business. He even gives a job to one employee who helps him tend to the business. His goal is for his business to grow and to get better earnings to live a better quality of life. What is most important for Francisco, though, is for his children to finish their professional studies "so they have a better quality of life than mine."
Previous Loan DetailsThe “La Huerta” (The Orchard) group is located behind a market called “La Palma.” It’s a group whose members come from different places and meets in a house that’s still not completely finished but that’s where they have their meetings. When we asked the group why it was called La Huerta, they… More from La Huerta 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