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El Tule Sur Group
In this Group: Martha Adilia , Nidia Del Carmen, Maria Magdalena, Yesenia Zuyen, Hilda Maria, Olga Lidia , Berta Azucena, Baltasarina Ramona

Update on El Tule Sur Group

Banco El Tule Sur is composed of 8 members, all resourceful women each engaging in a different activity; they have formed this group because they know each other and they come from the same community on top of being all responsible people. María Magdalena sells traditional sweets, greatly requested by her customers. María Magdalena is requesting a loan to invest it in her activity by buying different sweets such as “cajetas” (a sweet gelatin), “leche burras” (toffees made from milk), “bollo de coco” (corn wrap with coconut, sugar and anise, “bollo dulce” (corn wrap with anise) and caramels made with milk, in order to offer sweets in different flavors to her customers.
View original language description ↓
EL Banco El Tule Sur, está conformado por 8 integrantes que son mujeres emprendedores que cada uno tiene una actividad económica diferente pero formaron este grupo , ya que se conocen y son responsable, y además que son las misma localidad. María Magdalena su negocio es básicamente la venta de dulce tradicionales que es muy buscado por su clientela. María Magdalena está solicitando crédito para poder invertir en el negocio para las compras de los diferentes dulces como: cajetas, leche burras,bollo de coco, bollo dulce,cajeta de leche ,leche burras entre otros : y poder ofrecerles a sus clientes variedad de sabores.

Previous Loan Details

Tule Sur Bank is made up of eight members who are enterprising women. Each one has a different economic activity but they formed this group since they know each other and are responsible, and they also are from the same town. María Magdalena is 31 years old. Her business is basically selling... More from El Tule Sur Group's previous loan »

Additional Information

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).

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

  • $3,636
    Average annual income
  • 115
    View loans »
    Nicaragua Loans Fundraising
  • $23,803,650
    Funds lent in using Kiva
  • 23.5
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of El Tule Sur Group's $2,100 loan helped a member to buy different traditional sweets to sell them to her customers.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 11, 2012
Listed
Jun 17, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 19, 2013
This photo was used before for a previous loan for El Tule Sur Group. It was first posted on Kiva on Dec, 2011. Learn More