Update on Poetas GroupZitacuaro is characterized as a city of progress, where the majority of the inhabitants work in trade. Daniela is 19 years old, married and has a young daughter who is not yet in school. Daniela explains that she went to school until secondary school, and when she grew up it was difficult for her to find a well-paid job where she could also have days off. So she decided she should open a laundry service, which she established out of her parents' house since she could set up a room for it there.
With her own business, Daniela was able to keep an eye on her house and her family. She says that she started this type of business because she once worked in a laundry and she saw that, though it was a difficult job, it was profitable. She is now requesting a loan, and says that it was her sister who invited her to join her group, Poetas, in order to ask for it, as she saw that Daniela was having some problems with her washing and drying machines. Daniela says, "At the moment I am having a lot of problems with turning in the laundry on time, since it takes me a bit longer because two dryers and a washer have broken down, and I need capital to be able to fix them, so I can finish my pending work and not let my clients down."
She will also invest in products for washing clothes. She says her dream is to be able to buy three washer-dryer combos-- new ones, as the ones she has, she bought used.
The other members of the group are Rodrigo, Irma, Ricarda, Teresa, Eduardo, Beatriz, Elizabeth, Pablo, and Roberto. They will invest their part of the loan in their businesses of buying car parts and oils, running a hair salon, buying and selling frozen foods, buying material and liquids for a unisex beauty salon, buying supplies to make traditional corn-based Mexican dishes, buying sweets and fried foods to sell, stocking seasonal fruits and vegetables and stocking clothes and shoes to sell by catalog.
Previous Loan DetailsGuadalupe is 38 years old. She is originally from a place full of the rich history of Mexico. Also very close to there is the sanctuary of the monarch butterflies, where year after year the butterflies arrive from Canada, producing an unequaled spectacle. Her area presents itself as one of the… More from Poetas 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