1Ero De Mayo Group
Update on 1Ero De Mayo GroupAlejo is one of the members of the 1Ero de Mayo [1st of May] group. He has been working in business for 7 years. He says he has always lived in the same district and this is where he decided to open a grocery shop, with the intention of providing a service to his neighbours and earning his own money. He says he began by just selling soft drinks and sweets and gradually the shop has grown and currently is a grocery store. He thinks what makes his shop different is the good service and his prices. He also says that various shops have opened up in the district but they haven't worked out. His has kept going because he knows how to run the business and have patience. What he likes most about his business is that every day he has contact with people and he has made good friendships.
A loan from VisionFund and Kiva will help him to buy beans, oil, drinks, soup, rice, sweets, cookies, canned products, chips and juices to stock his business. He hopes that with this investment his business will have a better variety of products to attract more customers and increase his profits.
The other members of the group are:
Araceli: sells "antojitos" [Mexican snacks]
Braulia: sells clothing
Adela: sells footwear and lingerie
Luis Ricardo: pharmacy
Rosa Isela: sells clothing
Mónica: sells food
Selene: nutrition club
Él espera que con esta inversión su negocio tenga más variedad de productos para ganar más clientes y aumentar sus ganancias.
Los demás integrantes del grupo son:
Araceli venta de antojitos mexicanos
Braulia venta de ropa
Adela venta de calzado y lencería
Luis Ricardo farmacia
Rosa Isela venta de ropa
Mónica venta de comida
Selene club de nutrición
Previous Loan DetailsThis group is called 1Ero de Mayo and is made up of 8 people. These people came together to form a group as they are neighbors and they have in common business enterprises and the enthusiasm to make them prosper in order to give their families a better quality of life. Braulia is one of the… More from 1Ero De Mayo 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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