The communal bank has nine members and this isn’t the first time they’ve requested credit. The group has stayed together since it was formed. They themselves support and motivate each other to get ahead and improve their quality of life especially in each of their businesses.
Lizbeth is part of this group and her economic activity is a grocery store. She’s asking for this loan to invest in the business buying basic grains, oil, shampoo and detergent, among other products her customers require.
El Banco Comunal está conformado por 9 integrantes en el cual no es la primera vez que están solicitando crédito este grupo se mantiene unido desde que se formaron, ellos mismo se apoyan y se motivan para salir adelante y mejorar su calidad de vida y sobre todo en cada uno de los negocios que tienen cada uno de ellos. Lisbeth es parte de este grupo en cual su actividad económica a la que se dedica es a una pulpería y está solicitando crédito para invertir en el negocio en la compra de granos básicos, aceite, shampoo, detergente entre otros productos que demanda sus clientes.
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.