Familia M Group
Update on Familia M Group“Familia M” has been working with the institution for several cycles now; it’s composed of four members who are all members of the same family. Andrea is part of the group. She’s 27-year-old and married for the last 12 years to her husband, Jesús. They have formed a family together of four children three of which attend school. Andrea has been working for 8 years selling infant wear. She relates that she started this activity because her in-laws and her husband are merchants but she also started because she wanted to help her beloved husband, Jesús, with household expenses. Andrea relates that every market day she works selling clothes. She has well-established sales spots in all the sites. “I do very well when I sell in the markets. My normal routine is to go when the women receive their support stipends. I enjoy selling this type of clothing because it sells quite easily.” She also states that she’d like to have more variety to attract and please more customers. She will use the loan she’ll get to buy a wider variety of clothes which will help her gradually expand her business. Andrea wants to enlarge the business because she wants her children to finish their schooling and have better quality of life.
Juana will invest in cleaning supplies, Jesús will invest in underwear and Fidencio will invest in toys and novelty items. These are people who have been clients of the institution for several cycles already so they are very grateful and happy for the help Kiva and VisionFund México provide because they relate that their businesses have grown favorably and even though sales aren’t what they used to be they are still able to have better quality of life.
Previous Loan Details"Familia M" already has various cycles working with this institution. The group is formed by four members who are all family, and this is how they chose the name. Doña Juana who is the representative of the group is 46 years old and is married to señor Fidencio. Together for several years, the... More from Familia M 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