Nueva Realidad Group
Update on Nueva Realidad GroupDoña Concepción is 51 years old and is originally from the town of Curungueo, a picturesque town where most people work farming and selling avocados. She has been selling groceries in her house for 18 years, ever since her husband set her up with a work space. It allows them to have an additional income source to help pay for their children's education.
She says that she likes her business a lot because she keeps it well stocked and sells a little bit of everything, even toys and gifts. She also sells sandals, soda, and sewing supplies. She buys her sewing supplies in a village near hers called Zitacuaro.
She also says that they started their store so people in her community wouldn't have to travel to other towns to buy what they need and so they wouldn't have to spend money on travelling.
Conchita (the name she goes by) is asking for a loan to stock her grocery store and stock up on sewing supplies so her customers don't go to different places to buy them.
She is grateful to Vision Fund for the loan that she will give her, since she will be able to stock her store better. The names of the other members of the group are Lidia, Francisco, and María Raquel. They will invest what they obtain from loans to buy used clothing and bedspreads to sell, flowers to make flower arrangements, and also to stock up on different brands of cosmetics to sell.
Previous Loan DetailsLidia is 47 years old and comes from Curungueo. She is married and has 2 children, one who is in high school and the other is in elementary. Lidia is part of a group called Nueva Realidad ( New Meaning ) and says the group obtained its name because it would create new meaning through the loans ... More from Nueva Realidad 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