The Lirio De Los Valles ("Lily of the Valley") communal bank is made up of ten entrepreneurs who live in the same town. They formed the group to move forward supporting each other. This is the first loan that this group is asking for in order to invest in their businesses and offer their customers variety, and in this way generate income and move their families forward. Vianca Lisseth is part of this group, and her business is selling general merchandise. She does this door-to-door, since she already has her regular and casual customers to whom she offers her services. This entrepreneur is asking for a loan to buy pants, shirts, underwear, sandals, skirts, and a variety of cosmetics, among other products.
El Banco Comunal Lirio De Los Valles esta por diez emprendedoras que son de las misma localidad donde habitan y se formaron para salir adelante apoyándose unas a otras, este grupo es su primer crédito que está solicitando para invertir en sus negocios y ofrecerles a sus clientes variedad y así generar ingresos y sacar adelante a sus familias. Vianca Lisseth es parte de este grupo y su actividad a la que se dedica es a la venta de mercadería en general, esta actividad la realiza de forma ambulante ya tiene sus clientes fijos y eventuales a quienes les ofrece sus servicios, esta emprendedora está solicitando crédito para comprar pantalones, camisas, blúmer, sandalias, 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.