Update on Sorpresa GroupThe Sorpresa (Surprise) group is made up of 7 women and one man who do whatever is possible to provide their families with a better quality of life. The members are Leticia (Lety), Adelina, Juana, Juliana, Benita, Hilaria, Graciela, and Noé. All the group members except Lety have asked for loans to use to buy lambs. Leticia chose the name of the group because when she was invited to submit a loan request to VisionFund she was very impressed by it and it seemed like a great option for her. For this reason, it was "surprising" to her when they arrived at her house to invite her to submit a loan application.
Lety is 39 years old and has been married to José for 20 years. Together, they have formed a family and have 4 children, all of whom are currently in school. Lety says that she has worked making embroidery, tablecloths, and basic clothes for several years. She says that "I got started out of necessity. I lost my mother when I was little and I had to somehow learn how to work so I could help support my siblings. Now, I do the same thing but instead work to support my children."
Currently, she is asking for a loan so she can make tablecloths and buy wool yarn, thread, and fabric. Lety is very happy and grateful to Vision Fund because they have become a financial support to her family. Even though her greatest difficulty is competition, she doesn't pay it much mind. To the contrary, she does the best work she can so her customers will return to solicit her services as a seamstress.
Her profits have been very good and this has allowed her to improve her house. In the past, Lety didn't have her own house and lived with her parents. Now, however, she is very happy because she has not only been able to obtain her own house but has also been able to let her daughters study in private schools.
Lety and the rest of the group are very grateful to Vision Fund and to Kiva for the loans that they have been given and for all their services such as training and financial bonuses, which are very good. Smiling, Lety says that "To me, the bonuses have been a great support because with that small amount of money I can buy shoes, clothes, etc."
Previous Loan DetailsThe Sorpresa group is made up of 5 hard-working women and one man, who do whatever is possible to provide their families with a better quality of life. The group members are Adelina, Juana, Leticia, Juliana, Benita and Noé; all of the members are applying for this loan to invest it in buying lamb... More from Sorpresa 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