Santa Lucía Communal Bank is made up of eight members, all women between the ages of 25 and 60. They all live in the town of El Sauce, in the north of Nicaragua. These women are single mothers with children in their care. El Sauce is a very welcoming place of modest people and with a view and very pretty landscapes: with streams, clean and crystalline springs, trees, cypress trees.
El Sauce is also known for being a milk-producing region because it's the major activity in the area, they all support each other mutually to get ahead with their business and earn more income. Petrona del Socorro is the coordinator of the bank and travels from neighborhood to neighborhood selling milk curd. Petrona del Socorro's routine is very hard, approximately 10 hours a day in very difficult conditions because she walks in the intense sun every day. She carries her small son her because they don't have anyone to take care of them.
Petrona del Socorro is requesting the loan to invest in buying and selling milk and dairy products.
She and the other group members are grateful for the support and financing that Kiva lenders give to low-income people and to poor countries such as Nicaragua.
El banco comunal Santa Lucia esta conformado por 8 integrantes todas son mujeres entre las edades de 25 a 60 anos, todas pertenecen al municipio del Sauce que esta el parte norte de Nicaragua, estas mujeres son madres solteras con hijos bajo su responsabilidad. El sauce es un lugar muy acogedor, de personas muy sencillas con una vista y paisajes muy hermosos sus riachuelos, sus ojos de aguas limpias y cristalinas, sus arboles sus sipres. También el Sauce se caracteriza por ser una zona productora de leche, que es la mayor actividad de la zona. todas se apoyan mutuamente para salir adelante con sus negocios y obtener mejores ingresos. Petrona del Socorro es la cordinadora del banco y su actividad es vender de forma ambulante cuajada, leche. La rutina de de Petrona del Socorro es de aproximadamente de 10 horas diaria en condiciones muy duras ya que camina bajo el intenso sol del día a día. Y ella tiene que cargar con sus pequeño hijo porque no tienen a quien confiárselos. Ella esta solicitando el financiamiento para invertir en la compra y venta de leche y sus derivados. Agradecen el apoyo y financiamiento que los prestamista kiva le brindan a los personas de escasos recursos y países pobre como es Nicaragua.
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.