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Milagro De Dios Group
In this Group: Reyna Isabel , Francisca , Rosa Elizabeth , Sayda Jessenia, Priscila , Fidelina , Evelia , Celina

Update on Milagro De Dios Group

Reyna Elizabeth and her friends Priscila, Fidelina, Rosa Elizabeth, Evelia, Celina, Francisca and Sayda make up the “Milagro de Dios” (God’s Miracle) communal bank. They are responsible people who enjoy having this way of earning a living.

In Reyna’s case, she sells soup. She started this way of life thanks to her mother who taught her this occupation so that Reyna could have a way of earning household income.

The reason for this loan is to buy vegetables, meats, spoons and cups, among others. Together they have decided to take out this loan in order to improve their businesses.
View original language description ↓
Reyna Elizabeth con sus amigas Priscila, Fidelina, Rosa Elizabeth, Evelia, Celina, Francisca, y Sayda conforman el banco solidario Milagro De Dios. Ellas son personas responsables que disfrutan de tener este medio de vida. En el caso de Reyna ella se dedica a la venta de sopa. Ella inicio este medio de vida por su Mama quien le enseño a tener este medio de vida y así Reyna pudiera obtener un medio de ingreso para su hogar. El motivo del crédito es para la compra de verduras, carnes, cucharas, tasas entre otros. Juntas han decidido realizar este crédito con el fin de mejorar sus negocios.

Previous Loan Details

The name of this communal bank is “Milagro de Dios” (God’s Miracle). It is comprised of eight enterprising people who devote themselves to different types of work. They can be found selling recharges, making tortillas, dressmaking, butchering pigs, and selling curd and ice cream. All of them a... More from Milagro De Dios Group's previous loan »

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).

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

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
  • 106
    View loans »
    Nicaragua Loans Fundraising
  • $23,737,400
    Funds lent in using Kiva
  • 22.8
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of Milagro De Dios Group's $975 loan helped a member to buy vegetables, meat, spoons and cups.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 4, 2011
Listed
Nov 19, 2011
Currency Exchange Loss:
Possible
Ended:
Apr 15, 2012