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G.s. Quinta Rosa Group
In this Group: Maria De Los Angeles, Elizabeth Del Carmen
The Quinta Rosa communal bank is composed of Elizabeth Del Carmen and Maria De Los Ángeles; each is involved in a different commercial activity.

Elizabeth has had a grocery store for the last 3 years; prior to this she did not have a reliable source of income to support her children and she needed to feed, clothe and educate them.

Maria De Los Ángeles has sold prepared meals for over 2 years; she’s in this business because her grandmother started her out in it.

They decided to join together to seek funding to buy the merchandise each needs for her respective business.
View original language description ↓
El grupo Solidario Quinta Rosa está conformado por Elizabeth Del Carmen y Maria De Los Ángeles ambas se dedican a diferentes actividades económicas. En el caso de Elizabeth ella se dedica a una pulpería, hace mas de 3 años, por lo que anteriormente no tenía un medio de ingreso para mantener a sus 2 hijos, fue por la necesidad de proporcionarles a sus hijos alimentación, vestimenta y estudios. Maria De Los Ángeles se dedica a la venta de comida hace mas de 2 años que se dedica a esta actividad, ella inicio por su abuela quien le asigno este negocio. es por eso que deciden unirse para solicitar este financiamiento para realizar las compras de sus productos que cada uno de sus negocios necesitan.

Additional Information

Fundación Leon 2000

This loan is administered by Fundación Leon 2000. Fundación Leon 2000 began operations in 1993 as the first microfinance institution to serve the western part of Nicaragua, a country which continues to be one of the poorest in the western hemisphere. Fundación Leon 2000 works to further the development of micro, small, and medium enterprises through credit services and management, applying the best credit industry practices and technical expertise. Additionally, Fundación Leon manages several business and financial education programs in the community, specifically for young entrepreneurs and at-risk youth. Fundación Leon 2000’s group of experienced and dedicated employees works in 7 offices in Leon, Chinandega, Chichigalpa, Somotillo, Jinotepe, El Sauce, and Nagarote and serves several thousand clients (the majority of whom are women).

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.

About Nicaragua

  • $3,636
    Average annual income
  • 115
    View loans »
    Nicaragua Loans Fundraising
  • $23,737,400
    Funds lent in using Kiva
  • 21.2
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of G.s. Quinta Rosa Group's $475 loan helped a member to buy merchandise.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 23, 2010
Listed
Apr 7, 2010
Currency Exchange Loss:
Possible
Ended:
Jan 15, 2011