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Nueva Esperanza Group
In this Group: Amanda Del Socorro, Ely Del Socorro , Dominga Ramona , Maria Ernestina, Maria Isabel, Jennifer Fabiola , Meyling Carolina, Vilma Rosa, Gregoria

Update on Nueva Esperanza Group

The communal bank "Nuevo Esperanza" is made up of 9 members: Amanda, Ely, Dominga, María, Maria Isabel, Jennifer, Meyling, Vilma and Gregoria. They all support one another. They have all been working in retail trade for some time now. For example, Amanda del Socorro needs a loan to buy rice, sugar, beans, cooking oil, soap, deodorants, and other products so that she can stock her business.
View original language description ↓
El banco comunal la nueva esperanza esta conformado de nueve integrantes Amanda,Ely, Dominga, María, Maria Isabel, Jennifer, Meyling,Vilma y Gregoria. Todas se apoyan mutuamente. Ellas tienen mucho tiempo de dedicarse al comercio, por ejemplo Amanda del Socorro necesita el préstamo para comprar arroz, azúcar, frijoles, aceite, jabón, desodorantes, entre otros y así poder surtir su venta .

Previous Loan Details

The 'Nueva Esperanza' (New Hope) community bank has 8 members who came together to form this group as they are all from the same town. Through their group they support each other and exchange advice about their businesses so that they can make progress. This is the first time that they have req... More from Nueva Esperanza 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

  • $4,800
    Average annual income
  • 95
    View loans »
    Nicaragua Loans Fundraising
  • $24,753,075
    Funds lent in using Kiva
  • 23.5
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of Nueva Esperanza Group's $2,525 loan helped a member to buy rice, sugar, beans, cooking oil, soap, deodorants, and other products for her business.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 23, 2012
Listed
Jun 19, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 15, 2012