The community bank "Las Palomas" (The Doves) is made up of Juana, Tomasa, Leseyda, Oscar Danilo, Adán Emilio, Blanca, Emiliana, Marcia, Maria and Sonia. Sonia is the coordinator of the bank. She has run a business selling cosmetics for over a year. Most of her customers request a great variety of products, so she works every day from 8am to 7pm. At 23 she is a born fighter, putting food on the table for her family on a daily basis. This loan is to purchase lipsticks, powder, perfume, nail polish, creams and treatments.
El Banco comunal Las Palomas está conformado por Juana, Tomasa, Leseyda, Oscar Danilo, Adán Emilio, Blanca, Emiliana, Marcia, Maria y Sonia. Sonia es la coordinadora del banco se dedica a la venta de cosméticos, hace mas de 1 año que tiene este negocio la mayoría de sus clientes le solicitan gran variedad de productos. Sale todos los días desde las 8 de la mañana hasta las 7 de la noche, ha sido una mujer muy luchadora a sus 23 años le ha proporcionado a su familia el alimento diario. El crédito es para la compra de lápiz labial, polvos, perfumes, pintura de uñas, cremas, tratamientos entre otros.
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.