The Communal Bank “Dios Me Fortalece” is made up of 13 entrepreneurs that have worked with Fundacion Leon 2000 and have demonstrated themselves to be very responsible people and ready to grow their businesses every day. Each of the entrepreneurs has his/her own business in which they support each other and motivate one another by offering ideas to improve their businesses.
Mercedes Petrona is part of that group of entrepreneurs who wish to get ahead. Currently, she is asking for a loan to invest in her business by buying basic grains, oil, bread, eggs and soap, among other products, that she offers her customers in her store.
El Banco Comunal Dios Me Fortalece esta conformados por 13 emprendedores que ya han venido trabajando con Fundación León 2000, lo cual han demostrado ser personas muy responsable y dispuesta a crecer cada día en cada uno de los negocios. Cada uno de los emprendedores tiene sus propios negocios en cual uno a otros se apoyan y se motivan bridándose ideas de cómo mejorar. Mercedes Petrona es parte de este grupo de emprendedoras que desean salir adelante, actualmente está solicitando financiamiento para invertir en el negocio en la compra de granos básicos, aceite, pan, huevos, jabón entre otros productos que le ofrece a sus clientes en la pulpería.
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.