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El Progreso Group
In this Group: Maria Emperatriz, Francis Betania, Manuel Antonio, Ramona Antonia, Blanca Azucena, Rosa Emilia, Maria De Los Angeles, Luisa Amalia, Juan Doroteo
The communal bank El Progreso is comprised of nine members: Maria Emperatriz, Francisca Betania, Manuel Antonio, Ramona Antonia, Blanca Azucena, Rosa Emilia, Maria de los Angeles, Luisa Amanda, and Juan Doroteo, all of whom have different businesses. Luisa Amanda is the coordinator of the group and oversees the issues and responsabilities of each member from a financial aspect. She runs a grocery store out of her house and is requesting a loan to buy household daily consumption items such as oil by the gallon, sugar, detergent, toilet tissue, toothpaste, beans, eggs, milk, pasta, ice and bags, among other things.
View original language description ↓
Banco comunal el progreso esta conformado por nueve integrantes y son: Maria Emperatriz, Francisca Betania, Manuel Antonio, Ramona Antonia, Blanca Azucena, Rosa Emilia, Maria de los Angeles, Luisa Amanda, Juan Doroteo, tienen diferentes actividades economicas. Luisa Amanda es la cordinadora del grupo la que velas por lo interese y responsabilidades de cada una de las integrantes con respecto al fiananciamiento, tiene por actividad ecomica una pulperia ubicada en su cas de habitacion el financiamiento lo reguiere para invertir en la misma y comprar productos de consumo diario para el hogar como: aceite por galon, azucar, detergente, papel sanico, pasta de dientes, frijoles, huevos, leche, pastas, hielo, bolsas de gabacha, entre otros.

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).

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
  • 108
    View loans »
    Nicaragua Loans Fundraising
  • $23,737,400
    Funds lent in using Kiva
  • 23.5
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of El Progreso Group's $1,150 loan helped a member to buy oil in gallons, sugar, detergent, toilet tissue, toothpaste, beans, eggs, milk, pasta, ice, bags, etc.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 12, 2012
Listed
Jun 25, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 15, 2012