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Banco Comunal Nuevo Amanecer Group
In this Group: Yolanda, Jessenia Del Socorro, Aura Lila , Delma Auxiliadora, Alba Justina, Elki Justina, Telma Vilma, Francisca Jaquelin, Norma, Virginia Getrudis
Norma is part of the “Nuevo Amanecer” (New Dawn) communal bank which is formed by Yolanda, Jessenia Del Socorro, Aura, Delma Auxiliadora, Alba, ELKI, Telma, Francisca and Virginia. Norma sells soup and enchiladas; she’s always been a hardworking woman who enjoys having this business. It was thanks to it that she was able to raise her seven children who all now work independently. The reason for this loan is to buy vegetables, bags and oil, among others. They want to get ahead together as a communal bank.
View original language description ↓
Norma forma parte del banco comunal llamado nuevo amanecer. Que lo conforman Yolanda, Jessenia Del Socorro, Aura, Delma Auxiliadora, Alba, ELKI, Telma, Francisca y Virginia. Norma se dedica a la venta de sopa y enchiladas, siempre ha sido una mujer trabajadora que disfruta de tener este negocio fue por medio de el que pudo sacar adelante a sus 7 hijos que actualmente trabajan de manera independiente. El motivo del crédito es para la compra de verduras, bolsas, aceite entre otros. Juntos como banco comunal quieren salir adelante.

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

  • $4,800
    Average annual income
  • 102
    View loans »
    Nicaragua Loans Fundraising
  • $24,738,450
    Funds lent in using Kiva
  • 22.8
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of Banco Comunal Nuevo Amanecer Group's $1,200 loan helped a member to buy vegetables, bags and oil, among others.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 21, 2011
Listed
Nov 3, 2011
Currency Exchange Loss:
Possible
Ended:
May 15, 2012