Update on Girasol GroupFélix is 35 years old. He is from San Felipe de los Alzati, a place that is rich with natural wealth, with hills full of Sacred Fir trees and where most people work growing poinsettia plants. In this region the land is perfect for growing avocados.
Félix comments that this is the second loan that he has requested with his group, which is called Girasol (“sunflower”). He says that he has been growing and selling seasonal produce for more than 10 years. He says that he “started selling avocados and I saw that the sales were going well, so I decided to expand my business and to stock seasonal fruit. Now with the new loan I will buy watermelons, yam beans, oranges, mandarin oranges, cantaloupe and honeydew melons and avocados”.
He says that he will buy part of the fruit from the central wholesale market Zitacuaro, a nearby town. He will sell the fruit in the open air markets in México state and using the van he owns he will also sell in other towns. He says that his dream is to buy a piece of land where he can establish a stable business and in that way have more time with his family as he has a child in primary school. The other members of the group are called María, Jose and Agustina. They will all invest in seasonal fruit and vegetables to sell at the open air markers in México state.
Previous Loan DetailsMaría is 33 years old and a member of the 'Girasol' (Sunflower) group. She says that they gave the group this name because where their group meets there are a lot of sunflowers. Mary, as her friends call her, has a stall where she sells fruit and vegetables. She says that she sells her fruit… More from Girasol 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