Armonia Ii Group
Update on Armonia Ii GroupThe “Armonía II” (Harmony II) group is composed of four hardworking, enterprising women. The group coordinator is Martha Lorena, 43, who has a grocery store; she also sells tortillas, vegetables and pork. She has five children four of which are minors aged 13, 10, 7 and 8 years who attend school and in their free time help her in the store.
She started the business 10 years ago making and selling pozol and tiste [traditional beverages made from cornmeal and cacao] and in time, thanks to her effort and loans, invested in other products like selling scrap metal. She will use the loan to buy products for the business, mainly basic grains. Her goal is to have a supermarket like a PALÍ mart.
The other group members are Claudia, 28, who has a tortilla shop and sells beans, cheese and firewood; Devora, who makes nacatamales [Nicaraguan style tamales] and Estela who sells meat and vegetables.
Este negocio lo inicio hace 10 años con la realización de pozol y tiste con el tiempo gracias a su esfuerzo y los préstamos fue invirtiendo en otros productos como la venta de chatarra. El crédito lo invertirá en productos para el negocio principalmente granos básicos y su meta es lograr tener un supermercado como el PALÍ.
Las otras integrantes son Claudia de 28 años quien tiene una tortillería y vende frijoles, cuajada y leña, Devora de 24 años realiza nacatamales, frijoles y tortilla; y Estela vende carne y verduras.
Previous Loan DetailsThe “Armonia (Harmony) II” Group is made up of 4 hard-working and enterprising women, one of whom is Martha Lorena, 46 years old, who is coordinator of the group. In the year 2000 she began selling pozol (a hominy and pork dish) and later, with her earnings and loans, she began to prepare tortill... More from Armonia Ii Group's previous loan »
About ADIMLocated 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.
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Success!! The loan was 100% repaid