Update on Sol GroupGriselda is 40 years old. She is from a community that is rich in culture and history, called Zitacuaro in Michoacán, México. She is part of a group called Sol. She says that she has been working for five years with VisionFund to be able to get her business ahead. selling underwear for the whole family. She says that she started her business because she separated from her husband five years ago and she didn't have a stable job, so she decided to sell underwear, children's underwear, school stockings for girls and socks for men, women and children. She buys them in Mexico City since they have lower prices there. She says she sells her merchandise with payment plans and up front because sometimes people can't pay her everything and she gives them one week and two week payment plans. She goes to Mexico City to stock up every month. She says that she would like to expand her business and also sell women's clothing but in a stable business set up in her house, although she likes to sell the underwear door to door because she has time to care for her three children and that motivates her to get ahead.
She says: "thank you for giving me these loans. My business has grown and that has helped me get ahead alone with my children." The other members of the group are named Martha, Laura Angélica, Argelia, América, Karen Alejandra, Ángel Ulises and Lucia. They will invest in buying ingredients to make Mexican food to sell, replacement parts to sell at a mechanics workshop, used clothes to sell, fruit and vegetables in season, beverages sold wholesale at a warehouse, and shoes via catalog to sell.
Previous Loan DetailsGerardo is 27-years-old and is from a town rich in history where the people are friendly and very warm. He is part of a group called Sol (Sun) and says that he was invited to be part of the group by some friends because they know that he is responsible and has the moral and economic wherewithal ... More from Sol 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