The Communal Bank "Las Marías" is made up of 10 enterprisers that are from the same town. Each one of them has a business in which they offer ideas to improve in their businesses. This group has already had a loan with Fundación León 2000, and they have demonstrated that they are responsible people with good values. This group expresses to us that with the financing that was offered to them previously, they have increased their merchandise and their customers in the same way. The enterpriser Maria Angélica, who is part of this group, works as a salesperson of general merchandise. She has this business located in her home where she lives and travels to visit her customers. With the loan, she will buy shirts, blouses, sandals, shoes, pants, shorts, skirts, and a variety of cosmetics among other products.
El Banco Comunal Las Marías está conformado por 10 emprendedores que son de la misma localidad, cada uno de ellos tiene su negocio en el cual se brinda ideas para superarse en sus negocios. Este grupo ya ha atenido crédito con Fundación León 2000, y han demostrado ser personas responsable y con buenos valores, este grupo nos expresa que con el financiamiento que se le brindo anteriormente han aumentado su mercadería y sus clientes de igual manera. La emprendedora Maria Angélica que es parte de este grupo su actividad a la que se dedica es la venta de mercadería en general este negocio lo tiene ubicado en su casa de habitación y de forma ambulante que visita a sus clientes, con el crédito comprara camias, blusas, sandalia, zapato, pantalones, short, faldas, variedad de cosméticos entre otros productos.
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.