Las Divinas Group
Update on Las Divinas GroupVictoria is a 37 year-old single mother with one son. She is a hard-working woman who is also responsible for supporting her mother, who she still lives with. She helps with household expenses while her mother helps care for Victoria's son. Victoria sells bedspreads and shoes of various brands by catalog. She says she learned the business six years ago in order to support her son. She also works in a clothing store where she is paid on commission, but says that amounts to very little, which is why she learned the business of bedspread and shoe sales. She says that thanks to God, her sales are doing well. She buys her merchandise from authorized distributors in the area where she works. Victoria says that although she only makes a little selling shoes, it helps, so she has kept with her business.
She is requesting a loan to help her stock some more items for orders she has pending with customers, who she lets pay in installments so that it is not such a burden on them. Viki, as her loved ones call her, says that she really likes working with VisionFund because the repayments are not burdensome, so she has time to get the money together through sales to her customers.
The other group members are named Rosalinda, María Guadalupe, and Dora Elia. They will invest in the purchase of feed for rabbits and turkeys, and to purchase natural beauty products, handmade embroidery pieces, and cosmetics for catalog sales.
Previous Loan DetailsDora Elia is 31 years old and is a native of a community called Macutzio, where her main occupation is cultivating vegetables and growing poinsettias. She is a member of the Las Divinas Communal Bank and says that they gave it that name because when they started the group a very popular serial… More from Las Divinas 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