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Hojalatería Group
In this Group: Ruth Fonseca , María Del Carmen, Eugenia

Update on Hojalatería Group

The Hojalatería communal bank is comprised of three hard-working and enterprising women.

One of them is Ruth Verónica. She has devoted herself to selling frying pans and harvesting tamarind for ten years. She started this business together with her husband, a craftsman.

The other members of the group are María del Carmen who has been selling frying pans and clothes for five years, and Eugenia who sells harvested tamarind.
View original language description ↓
El grupo Hojalatería está conformado por tres personas trabajadoras y emprendedoras una de ellas es Ruth Verónica quien se dedica a la venta de sartenes y cosechas de tamarindo desde hace diez años. Este negocio lo inicio junto a su esposo quien es artesano.
Las otras integrantes son María del Carmen quien se dedica a la venta de sartenes y ropa desde hace 5 años y Eugenia quien vende cosechas de tamarindo.

Previous Loan Details

The Hojalatería Group ("plumber") is composed of three women who produce frying pans: Ruth F. L., María del Carmen F. and Marcia Marbelly G.. Over the past three years they took out twelve loans from the microfinance institution ADIM, which resulted in a marked improvement of their business. ... More from Hojalatería Group's previous loan »

Additional Information

About ADIM

Located in Central America, ADIM is a small microfinance institution with a strong social focus. In the saturated microfinance market of Nicaragua, ADIM stands out for its emphasis on the holistic development of women as well as its provision of responsible financial services. Founded in 1989 by a small group of Nicaraguan women, this institution has remained true to its initial goal of providing its clients (90% of which are women) with an opportunity for economic growth, in addition to personal and professional empowerment. Supporting an ADIM borrower means contributing not only to the continued offering of the socially conscious services it provides, but also to the sustainable growth of a truly unique microfinance institution.

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

  • $4,800
    Average annual income
  • 134
    View loans »
    Nicaragua Loans Fundraising
  • $24,576,775
    Funds lent in using Kiva
  • 23.2
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of Hojalatería Group's $975 loan helped a member to make frying pans.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 9, 2012
Listed
Mar 22, 2012
Currency Exchange Loss:
Covered
Ended:
Oct 15, 2012