Un Nuevo Resplandor Group
Update on Un Nuevo Resplandor GroupMarcela is 40 years old and she is originally from the indigenous community of otomí, a place full of vegetation where being a seamstress or a lamb farmer are the primary types of employment. She is a member of a group called "A New Glow" and the majority of the members sew crafts to sell. Marcela is associated with other women who make cakes, cookies, puddings, cheesecake and different desserts to sell. She says that she has worked with this business for approximately 4 years and she said that the sales are going well now that they take orders for special events and the cakes are homemade which the customers greatly prefer. In her free time she also makes textiles including napkins, pillows and tablecloths to sell. She says that in the place where they make the desserts she can also sell her textiles and that she achieves good sales. She is seeking a loan to improve her businesses and to buy materials and supplies for her sewing and her desserts like checkered cloth, fabrics, threads, needles, yarns and rings and for the desserts, chocolate mousse, different types of milk, flour, eggs, flavorings, and fruit, etc. She says that if she receives the loan her business will improve and she will be able to obtain earnings to support her children in school and to assist her husband with the expenses of their home. The other three members of the group are named Feliciana, Arnulfa and Pilar. They will invest in their businesses through the purchase of fertilizers, nutrients for growing avocados, and corn seeds to sell and the purchase of materials for handmade embroidery.
Previous Loan DetailsFeliciana is 38 years old. She is married to Saúl, who is a builder, and has three daughters: Berenice (a high school student), Marlene (an elementary school student) and little Guadalupe. Feliciana tells us that she buys maguey cacti so that she can extract 'aguamiel' (a non-alcoholic drink). ... More from Un Nuevo Resplandor 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