Ms. María R. Hernández is a 48-year-old married mother with three children, two of whom are grown, and one daughter is 13. Ms. R. sells fruits and vegetables at the wholesale market for a living. She started this business 9 years ago because of the high unemployment rate in the country at that time. Furthermore, she needed to have a steady income. She learned this trade from her mother. She is requesting this loan with the goal of investing it in her business so that she can get ahead. Another member of the group is Mr. José Santiago, age 51, whose wife is a homemaker and helps him prepare the merchandise. He also sells fruits and vegetables at his small stand in the market. The last group member is Mr. José Luis, who is married and has a 5-year-old daughter. His wife sells fruits, and he helps her out. He sells fruits and vegetables at the market. He has been in business for 5 years. He launched the business because he needed to support his daughter. He later realized how lucrative it was and decided to establish himself in a business space. They have all decided to improve their businesses via these loans.
La señora María R. Hernández tiene 48 años de edad, es casada con tres, hijos los cuales ya dos son mayores de edad y una hija de 13 años. La señora se dedica a la venta de frutas y verduras, los cuales distribuye en el mercado el mayoreo. Este negocio surgió desde hace 9 años, dio inicio ante la falta de trabajo que aqueja el país, además de la necesidad de un ingreso fijo. Este negocio lo aprendió de su mama. Ella solicita este crédito con el objetivo de poder invertir en el negocio y de esta manera poder salir adelante. Otro integrante de este grupo es don José Santiago el cual tiene 51 años de edad, Su esposa es ama de casa y solamente le ayuda a preparar la mercadería. El señor se dedica a la venta de frutas y verduras, el tiene un pequeño tramo localizado en el mercado. El último integrante del grupo es don José Luis, es casado y tiene una hija de 5 años de edad. Su esposa se dedica al comercio de frutas, por lo que le ayuda en su negocio. El señor se dedica al comercio de frutas y verduras, el cual vende en el mercado. Este negocio ya tiene 5 años de estar funcionando, dio inicio ante la necesidad de mantener a su hija, después vio que era rentable y decidieron establecerse en un local. Por lo que juntos han decido mejorar sus negocios por medio de los financiamientos.
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.