El Rincon Group
Update on El Rincon GroupJose Juan is a hard worker and lives in Mazahua. He works in the sale of fruits and vegetables in Mexico City. He has a place in the center of the grocery store. He says that he works Monday through Friday and Friday night he returns to his neighborhood. His father helps him to sell on Saturday and Sunday. He says that he learned the business from his father because he did not earn enough as a laborer that his father would take him to work in the storefront in Mexico. Eight years ago he become independent which had taken time because he wanted to earn his own income and also because he was young and had to support his family. He made them a small house to live in. He says that with a lot of effort he has been able to get his family ahead. He has two children who are studying and he wants them to have a career because working as a salesman is very difficult.
He is requesting a loan to purchase fruit and vegetables that are in season in the central grocery store to resell them at his store. He says that thanks to VisionFund his business has grown. Jose Juan had to stop working for a time because he had a motorcycle accident and had a foot fracture. It was impossible for him to travel to complete his payments. Now that he is well he wants to supply more fruit at a good quality to sell more because his clients search for quality at low prices.
The other members of the group are: Gonzalo, Silvino, Ausencio, Camila, Albina, Eliseo and María Carmen. They invest in their business such as the growing of avocado, to purchase supplies to improve garden and to purchase fruit and vegetables in season, and the purchase and breading of sheep.
Previous Loan DetailsDon Silvino is from an indigenous Mazahua community, in which the majority of people work making handicrafts from the Ocoshal leaf and woven wool. Don Silvino has made a living raising sheep for over 30 years. This is because he never studied, as his parents did not have the means to send him ... More from El Rincon 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