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San Fernando Ii Group
In this Group: Rosalina , Norma , Maria Leonor , Modesta Aurora , Zacarias Del Socorro , Leonidas Del Carmen , Maria Marcos , Ivania Del Socorro

Update on San Fernando Ii Group

The community bank San Fermando is made up of Maria Leonor, Elias, Maria, Modesta Aurora,Ivania del Socorro, Rosalina, Norma, Leonidas del Carmen, Zacarias del Socorro. They all have differing economic activities. Modesta Aurora is the bank coordinator, she is in charge of the enforcement and fulfillment of the payments of the members of the community bank. Modesta makes a living selling groceries from her house. She is requesting the loan for the purchase of basic supplies such as rice, sugar, cooked beans, tiste (a local drink), cuajada and other cheese, chicken in pieces, natural drinks, oil, soap, dish soap, detergents and other items.
View original language description ↓
El banco comunal san fernando esta conformado por Maria Leonor, Elias, Maria, Modesta Aurora,Ivania del Socorro, Rosalina, Norma, Leonidas del Carmen, Zacarias del Socorro, todos tiene actividad economica diferentes, Modesta Aurora es la cordinadora del banco la cual se encarga de la diciplina y cumplimento de pago de los miembros del banco, Modesta tiene por actividad economica la venta de pulperia ubicada en su casa de habitacion , el financiamiento lo quiere para comprar productos de consumo diario como: arroz, azucar, frijoles cosidos, tiste, cuajada, queso, pollo en piezas, refresco naturales aceite, jabon de lavar, jabon de traste, detergente entre otros.

Previous Loan Details

The Communal Bank “San Fernando II” consists of 10 entrepreneurs who have worked with Fundación León 2000. During the cycle in which they have worked with loans, the members have demonstrated that they are responsible people who desire to succeed. As a result, their credit record is impeccable.… More from San Fernando Ii 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
  • 59
    View loans »
    Nicaragua Loans Fundraising
  • $23,422,650
    Funds lent in using Kiva
  • 23.6
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of San Fernando Ii Group's $1,175 loan helped a member to buy rice, sugar, cooked beans, tiste (a local drink), cuajada and other cheese, cut up chickens, natural drinks, oil, soap, dish soap, detergents and other items.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 13, 2012
Listed
Jul 27, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013