Nueva Vida Group
Update on Nueva Vida GroupAlejandra is single and lives with her parents. She has a bakery business making bread. She makes all different kinds of bread, but what she sells the most are conchas (a kind of sweet bread), croissants and rolls. She gets up very early in the morning (4am) with her parents in order to make her delicious breads and when the bread is ready, she puts it in baskets to sell to the people of Zitacuaro, at the central bus station and the central area to purchase groceries. She says that every since she was small, her parents taught her how to make bread and since she wasn't able to go to more school, she decided to help her parents make and sell bread. She says that 7 years ago she branched out on her own and now she makes her own bread and she sells it on her own. And even though her father lets her use his oven, she buys her own firewood and supplies to make her bread.
She is asking for a loan with Visión Fund in order to improve her business and to purchase more supplies she needs in order to make bread. If she gets the loan, she will use it to purchase flour, butter, egg, milk, sugar, colorings and creams since she makes breads with different flavors and different leavening. She says that she would like to get the loan as soon as possible so that she can make more bread. She says she is happy working with the group Nueva Vida (New Life) because it is a group that gets things done and repays their loans on time, also, when one group member can't make their loan payment, the group comes together to find the funds to help that individual.
The other members of the group are Marivel, Laura, María del Rocio, Rocío del Carmen, Gerardo Ángel, Alejandro, María Catalina, María Elena, Ofelia and Francisco, they will invest their loans in purchasing supplies to make and sell hand-made tortillas, purchase mattresses and sheets, candies to resell in a grocery store, to purchase parts to maintain a public transportation vehicle and to purchase sweet corn and supplies to prepare the corn and sell it.
*In the picture: behind the lady in red is her daughter who is not a member of the group.
*In the picture: at the back of the lady in red, her daughter, who is not a member of the group.
Previous Loan DetailsMarivel is 35 years old and belongs to the group Nueva Vida. She says they gave their group that name (New Life in English) because thanks to the loans they felt their lives would change. The loans have helped them all to improve their businesses and therefore their life conditions. Mary, as she... More from Nueva Vida 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