The De Confianza Los Cerritos communal bank will start its third cycle. It is made up of nine members and is directed by Dominga Yanett. The members run a variety of businesses. Among them we have a general store, milk sales, bread sales, Nicaraguan tamales and cell phone minutes sales, scratch-off lottery ticket sales, cell phone minutes sales, tortilla and cosa de horno (sweet cornbread) sales, cell phone minutes sales, and bread sales. Dominga started it and indicates that she has been working with Fundación León 2000 for awhile and formed the group that has now taken shape. Currently she has a general store, a business at which she has worked daily for 30 years. The loan she is asking for now is to buy staple grains, milk, sweets, soft drinks, juices, matches, salt, soups, and canned goods. This type of work allows her to generate resources to suport her family, since she is married and has a family to look after.
El banco comunal De Confianza Los Cerritos iniciará su tercer ciclo está compuesta por nueve integrantes y está dirigido por la señora Dominga Yanett. Los negocios que las integrantes de la asociación comunal llevan son variados entre ellos tenemos Pulpería, venta de leche, venta de pan, nacatamales y recargas telefónicas, venta de raspadita, venta de recarga, venta de tortilla y cosa de horno, venta de recargas y venta de pan.Dominga empezó indica que desde hace tiempo trabaja en con Fundación León 2000 y que integro el grupo que ahora conforma. En la actualidad ella tiene un negocio que es una pulpería, negocio que trabaja todos los días desde hace 30 años. El crédito que ahora solicita es para comprar granos básicos, leches, golosinas, gaseosas, jugos, fósforos, sal, sopas y enlatados. Esta forma de trabajo le permite generar recursos para apoyar a su familia, pues ella es casada y tiene una familia que velar.
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.