La Semillita Group
Update on La Semillita GroupEdith, 25, is single and lives with her mother. She is a member of a group called La Semillita. She says that she was motivated to apply for a loan in order to grow her business. She studied to be a beautician. She says that she always enjoyed styling and dressing people, so she decided to study a short degree in styling.
She is applying for a loan from VisionFund to buy the materials which she uses. She says that her business is going quite well and that she is getting more practice now. She does not have much experience and she has been in this business for 3 years, but there are people who have plenty of faith in her. She laughs, "There are women who tell me I have a good hand for haircuts because their hair grows very quickly, and that makes me more famous." She will buy dye, good-quality scissors, peroxide, tubes, and an iron to straighten her clients' hair. She says that she runs her business in her home, but she would love to have a salon with furniture in order to give her clientele a good-quality service.
The other members of the group are María Balbina, Yolanda, Elodia, Rosa, María Isabel, María Santos, José David, María Guadalupe, Diana, and María Eufemia. They will invest in their businesses, such as a clothing store, raising chickens for sale, a home-style restaurant, selling shoes from a catalog, a grocery store, and the sale of fruits and vegetables, mobile phone accessories, fantasy jewelry, and turkeys.
Previous Loan DetailsKaren is 19 years old and is an original member of the community called "la venta". She was only able to study until third grade as she lacked the resources due to her family having other children who were also studying. This is why she started her business of selling home items from a catalog.… More from La Semillita 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