Update on Amigos GroupSilvia, 59, has a business selling natural products by catalog. She says that she has a nutrition club at home and does very well. She belongs to the “Amigos” group and says they named it thus because everyone in the group gets along very well and they trust each other. She says that she’s had her business for five years and a girlfriend invited her to work and to create her club so that people will eat healthy and stay in shape. She also opened this type of business because she’d been unable to get stable employment because after the age of 35 no one wants to hire them. “It’s very difficult to find a good job with benefits,” she says; “I may not have social security but I do earn good profits.” She says that she opens for business very early and makes various nutritional breakfasts like tea, malts and salads that help people stay in good shape. Her customers also buy products from her and to make them at home. Silvia is asking for a loan to fill pending orders and to buy fruit and vegetables to make her nutritious breakfasts.
The other group members are María Eugenia, Clara, Nancy Verónica, Yessica, Elizabeth, Lorena, Graciela, J. Cruz and Maricarmen. They will invest in their businesses buying fabric to make clothes to sell, to buy ingredients to make Mexican fast-food snacks to sell, to buy items to stock a grocery store, to buy women’s, men’s and children’s clothes to sell, to buy chicken to sell by the kilo, to invest in seasonal fruit and vegetables, to sell bedspreads and linens by catalog and to buy shoes by catalog to sell.
Previous Loan DetailsClara, 55, is a hardworking and responsible woman. She is a member of the "Amigos" ("Friends") group. She had previously been part of another group, but due to personal problems they decided to divide up and create another group. They chose the name "Amigos" because they support each other. Cl... More from Amigos 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