Mujeres Unidas Group
They have a variety of businesses such as selling natural medicine, making fried snacks, and selling footwear. They work twelve hours a day to attract customers and earn money. Despite the routine and hard work (many of the women sell their goods in the streets under the hot sun), the women say that this is not a problem and they enjoy their jobs and pleasing their customers.
The Mujeres Unidas Community Bank is very grateful to Kiva donors for the help that they provide for their various businesses. Oneyda Patricia is the coordinator of the bank. She sells natural medicines in the streets and from her house. She needs the loan to buy natural medicines, made from herbs such as yanten, rosemary, camomile, and linseed, not chemicals.
Fundación Leon 2000This 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.
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Success!! The loan was 100% repaid