This community bank is made up of ten entrepreneurs who are existing clients of Fundación León 2000. All of these entrepreneurs support each other and share tips from their businesses so that they can each make progress. The group used their previous loan to invest in their businesses in order to increase their stock. They tell us that they also increased the number of customers to whom they sell their products.
Silvia Melania is an entrepreneur who belongs to this group and her business is selling tortillas. She also sells cooked beans. She is currently requesting a loan to buy beans, corn, lime, firewood, bags and other products that she needs for her business.
El Banco Comunal está conformado por 10 emprendedores que ya han venido trabajando con Fundación León 2000, cada uno de los emprendedores se apoyan y se brindan consejos en sus negocios para salir adelante. En el crédito anterior que se les otorgo a este grupo lo invirtieron en cada uno de sus negocios para aumentar su inventario, los emprendedores nos expresan que también han aumento sus clientes a quienes les ofrecen su producto. Silvia Melania es una emprendedora que es parte de este grupo y su negocio es la venta de tortilla y además vente frijoles cosidos, ella actualmente esta solicitando financiamiento para la compra de frijoles, maíz, cal, leña, bolsas, entre otros productos que requiere para el negocio.
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.