Update on Girasol GroupForty-year-old Noé belongs to a group called Girasol [Sunflower]. He says that his colleagues chose that name because there were so many sunflowers by the house where they met to pay their bill that they wouldn't forget it.
Noé is originally from an indigenous community called Don Gu, a Mazahua word meaning "corner." He has sold fruits and vegetables for 12 years at various markets in his town and the surrounding area. Noé also drives around the area in his truck selling produce. He buys fruits and vegetables from a supply center and then sells them in the community. Noé also sometimes buys peaches and avocados wholesale from orchards and resells them in Mexico State, earning a little more when he sells wholesale.
Noé is applying for a loan to purchase seasonal fruits and vegetables. He wants to purchase better quality produce to sell in Mexico City, where demand is higher. Noé says that this is the first time he's worked with a lender and he hopes the process goes well.
Noé joined the Girasol group at the invitation of a friend. This friend knew that Noé needed capital to grow his business and would make payments, so he suggested that Noé work with VisionFund. Noé is grateful for the trust of his friend and VisionFund and says he'll strive to make payments on time.
The other members of the group are María, José, Agustina and Félix, who are requesting loans to purchase seasonal fruit and vegetables and sewing materials.
Previous Loan DetailsFélix is 35 years old. He is from San Felipe de los Alzati, a place that is rich with natural wealth, with hills full of Sacred Fir trees and where most people work growing poinsettia plants. In this region the land is perfect for growing avocados. Félix comments that this is the second loan ... More from Girasol 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