G.s. Chavarria Group
Update on G.s. Chavarria GroupThe solidarity group Chavarría is made up of Juana del Carmen, who is 48, married, and has two children, aged 21 and 26, and Paula Emilia. They belong to the department of Chinandega, a well-known commercial area, which is located in the west of the country.
Juana sells general merchandise, which consists of new clothing, shoes, cosmetics, as well as a small shop where she sells goods for daily consumption such as: rice by the pound, quarts of oil, matchbooks, onions, loaves of bread. Juana has 17 years of experience in business activity out of her home and on rounds.
Her daily routine is to get up at 5:00 am to open the shop from a very early hour--to take advantage and sell as her clients have to get up and find breakfast to send their children to class--until 10:00 pm. She started the business with savings from her job as a teacher, from which she had to retire due to illness, and so decided to start her own business.
The objective of this loan is to invest in clothing for women, men and children, and some orders for her clients.
Paula is married and has six children, all of age and independent. Her business is selling refreshments, and she has 18 years experience. She makes the soft drinks with a natural fruit base and cow's milk. Thanks to God and the quality of her drinks, she has regular and transient clients. The business is located at the edge of the local market.
In the photo, we see Paula offering her drinks in an apron with her cooler at the edge of the market.
The solidarity group Chavarría is grateful for the assistance given to small businesses with limited resources and poor countries like Nicaragua.
Previous Loan DetailsThe C. solidarity group is made up of Paula Emilia and Juana Del Carmen. Paula sells drinks, and has made her living doing this for 21 years. She sells in the bus station where approximately 50 to 100 people pass by every day; this is very profitable. Juana has a general store, and has had this... More from G.s. Chavarria Group's previous loan »
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).
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.
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Success!! The loan was 100% repaid