Luz Del Día Group
Update on Luz Del Día GroupYolanda is 27 and is the mother of one child who goes to preschool. She belongs to the group called Luz del Día (Daylight). She says that she was invited by one of her aunts because the aunt saw that she was unhappy when between herself and her spouse they were unable to get together enough money to buy parts for a minibus used for public transport. For this reason her aunt suggested that she start to work with VisionFund so that they would be able to keep their minibus in better condition.
She lives in a town that is known nationally as one of the main producers of poinsettias. She says that seasonally when it is November, her husband goes off to make deliveries of this flower throughout the country and this is the best time of the year for him because he has daily work. During the rest of the year he occupies himsef by working different routes with the minibus as public transport. Currently Yola, as her friends call her, is looking for a loan in order to purchase spare parts like tires and to perform maintenance on the minibus.
She says that the previous loans that she has taken out have helped her a lot because they have improved her family unit. In addition, she is saving to buy another minibus and in this way provide work for the people in her community.
The other members of the group are named Audelia, Leónides, Josefina and Candelaria. They will invest their loan in a notions store, to purchase articles to stock a grocery store, to purchase women's and children's clothes to sell and to purchase flowerpots, mortars and crafts to sell.
Previous Loan DetailsMrs. Josefina, 56, is originally from a region with great cultural wealth and beautiful mountains. Locals take good care of nature because close to their village, lies the Monarch Butterfly Biosphere Reserve, visited by tourists from all over the world. Josefina is a member of the "Luz del día... More from Luz Del Día 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