Luz Del Día Group
Update on Luz Del Día GroupMrs. Josefina, 56, is originally from a region with great cultural wealth and beautiful mountains. Locals take good care of nature because close to their village, lies the Monarch Butterfly Biosphere Reserve, visited by tourists from all over the world.
Josefina is a member of the "Luz del día" [Daylight] group. She says that thanks to the loans, her business has grown a lot. She started with a small table, selling sweets more than fifteen years ago. Step by step, she started buying nonperishable food and after a while, fruits and vegetables. She now has a larger store at home, which is located by the road leading to the reserve and the archaeological area of Zirahuato, which is also very popular.
Josefina says that she has been working with VisionFund for several cycles and that their loans have helped her a lot. She says: "since I started working with the institution, my store is better stocked and my neighbors choose it over other stores, since I have everything they need. I thank VisionFund because they help me improve my small store."
Josefina is requesting a loan to buy soap, bleach, eggs, milk, sugar, beans, oil, tuna fish, chilies with vinegar, sardines, toilet paper and canned food, among other things. She says that the loan will help her a lot because she also wants to buy some sewing supplies, since there are many women in her community that normally make handicrafts to sell to tourists.
The remaining members are Audelia, Leónides and Yolanda. They will use their loans to improve a sewing supplies store and a van used for public transport and to buy women and children’s clothes to sell.
Previous Loan DetailsAudelia, 45, is married to Mario, a laborer. They have four children, only one of whom is still a dependent and attends high school. She says that there are four other members of the communal bank “Luz del Día” [Daylight] and that they chose this name because the loan is a light by which the women… More from Luz Del Día 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