Los Nuevos Group
Update on Los Nuevos GroupCitaly is 25 years old, and has three children, two of whom are in elementary school. She is a member of the community group, “Los Nuevos” (The New Ones), and Citaly is grateful to be part of this group that she feels is very hardworking and genuine. She also likes working with VisionFund because they apply reasonable interest rates to borrowers. For the past ten years, Citaly has operated a fruit and vegetable stand near the center of her town. She rents out the space next to her parents’ stand, and learned the trade and flow of the markets from them. Since Citaly married young, her parents decided to help her with the initial rent payments to get her stand and business up and running.
With the support from this loan, Citaly plans to purchase high quality fruits and vegetables to stock her stand and offer a wider variety of produce to her clients. “I like to always keep my stand well-stocked with the highest quality of produce to make sure I stay competitive,” Citaly comments. Every third day, Citaly visits the supply center to restock her produce.
The other group members are Alma, J Remedios, María Guadalupe, Hilda, Javier, Diana and Mayra. They work in various other trades, including: floral sales for arrangements, craftmaking, fabric and cloth sales, tortilla making and sales, as well as buying blankets and shoes from catalogs for local resale.
Previous Loan DetailsAlma, 25, is from the town of Zitacuaro. She's the mother of two elementary-school children. She's a single mother, which is why she puts so much into getting her children ahead. She belongs to a group called Los Nuevos. She says she joined the group to be able to buy a sewing machine becau... More from Los Nuevos 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