The communal bank "Panales No. 2" is made up of 11 entrepreneurs who are all from the same town. They all have different businesses, and they have already been working with Fundación León 2000, which has provided them with loans. Over this period, they have demonstrated that they are responsible and have a desire to succeed. Every day, these entrepreneurs struggle to get ahead with their businesses so that they can provide the best for their families. The businesswoman María Ofelia is part of this group; she has a business butchering hogs. She already has regular and occasional customers to whom she offers her products. At this time, she is requesting a loan to buy pigs so that she can meet the demand of her customers.
El Banco Comunal Panales No 2, está conformado por once emprendedores que son de la misma localidad y poseen diferentes tipos de negocios, ya han venido trabajando con fundación león 2000 en crédito que se les ha brindado y durante el financiamiento han demostrado ser responsable y con deseos de superación, cada día los emprendedores luchan para salir adelante con sus negocios para darle a su familia lo mejor. La emprendedora María Ofelia es parte de este grupo y su actividad económica a la que se dedica es al destace de cerdos, ya tiene sus clientes fijos y eventuales a quienes les ofrece su producto, en la actualidad está solicitando financiamiento para comprar cerdos y poder cubrir la demanda de sus clientes.
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.