El Sol Naciente (Cuenca) Group
Update on El Sol Naciente (Cuenca) GroupSol Naciente (Rising Sun) is a communal bank made of 10 women who are all friends and who live in the city of Cuenca, a place which enjoys a cold climate and colonial architecture mixed with more modern. It also has plenty of green spaces for enjoying nature. Its people have an innate charisma and are gentle and friendly. The members of this group are hard-working women who are always looking for income to support their families. They all still defend their culture and the traditions that were passed down by their parents.
One of the group members is Maribel, 45, who is married and has 5 children with her husband has 5 children aged 23, 21, 18, 17 and 11. Her eldest son is married and independent, her second son works and helps her financially, her third son is disable and stays at home, her fourth child, her eldest daughter, studies at college in the city and her youngest daughter is at the junior school. Her husband works as a security guard, they have their own home and live in rented accommodation.
With her first loan, Maribel started her own business selling food and has been working in this trade for 6 months. This job has given her the opportunity to help her husband and improve their household income.
She invested her previous loan in a cart to sell her food from, which has provided good income and she has had no problems making the payments. She will invest her new loan in the purchase of kitchen utensils and supplies for making her dishes.
The small photo is of two members who could not be present when the group photograph was taken.
Una de las integrantes de este grupo es la Señora. Maribel, tiene 45 años, es casada y en su unión conyugal ha concebido 5 hijos de 23, 21, 18, 17 y 11 años de edad, su primer hijo es casado y vive independiente, su segundo hijo trabaja y le ayuda económicamente, su tercer hijo tiene una discapacidad y pasa en casa, su cuarta hija estudia en un colegio de la ciudad y su ultima hija estudia en una escuelita de la ciudad. Su esposo presta sus servicios como guardia de seguridad, no tienen casa propia por lo que viven arrendando.
La Señora. Maribel con el primer crédito que recibió inicio su propio negocio el cual es la venta de comida y lleva 6 meses trabajando en esta actividad, este trabajo le ha dado la oportunidad de ayudar a su esposo y mejorar los ingresos de su hogar.
Su crédito anterior lo invirtió en la compra de una carreta para vender sus alimentos, la cual le ha dejado muy buenos ingresos y no ha tenido problemas en los pagos. Su nuevo crédito lo va a invertir en la compra de utensilios de cocina y víveres para realizar sus platos.
La foto pequeña es de dos socias que no pudieron estar presentes cuando se tomo la foto del grupo.
Previous Loan DetailsEl Sol Naciente (The Rising Sun) is a communal bank made up of 9 members who, with their work, help to improve the economic situation of their households and move their families ahead. They live in different places in the city of Cuenca. It has a cold climate, but the warmth of its people is very... More from El Sol Naciente (Cuenca) 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