Los Girasoles Group
Update on Los Girasoles GroupIn the state of Michoacán, there is a much-visited hydroelectric dam and reservoir where people fish, camp, and enjoy other recreational activities organized by the city, especially during the Easter week vacation. Sofía is proud to be from this beautiful area. She is happy to be a member of the communal bank Los Girasoles (The Sunflowers) because whenever their is a disagreement or problem, everyone works together to move ahead. She lives with her husband and has a stand in her house where she sells regional candies that she makes herself from guayaba and quince meat, milk, pumpkin preserve, figs, peaches, caramel, and tamarind pulp. She learned to make the candies at a workshop presented by the mayor's office and designed to raise living standards.
She has been making candies for 20 years. She also sells women's clothing to neighbors, offering payment terms that they can afford. She sells her candies to various handicraft merchants who have stands in the Zitácuaro market; she provides them with a sweets selection. Sofía is applying for a loan to buy ingredients to make more candies for the Easter holidays in March, when sales are high because many tourists are in town.
She thanks VisionFund for its support, as the loans have helped her slowly build her business. The other 13 members of the group are Graciela, Gabriela, Paulina, Felipa, Sofía S., Verónica, Teresa, Itxe, María Guadalupe, Juana, Ma. Remedios, Raquel, and Ofelia. They will use the loan to stock a grocery store with non-perishable items, to buy chicken by the kilo to sell, to buy spare parts, to buy clothing for inventory, to buy catalog merchandise to sell, and to buy stationery items.
Previous Loan DetailsAnita is 32 years old. When she was a little girl her parents instilled in her a love of the earth and taught her how to work with it. Now, Anita is part of the group called Los Girasoles (in English: Sunflowers), which happen to be one of Anita's favorite flowers. As a young girl, Anita's parent... More from Los Girasoles 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