G.s. Hospital Ii Group
Claudia’s daily routine is to head out into the streets very early in the morning carrying a bundle that weighs about 20 kilograms or more filled with her merchandise. She takes her merchandise both to her regular customers and any others who she sells to on credit collecting payment by-weekly which is the customary way of collecting payment in this country.
She intends to use the loan to invest in working capital and buy merchandise like clothes for children and adults, sandals and cosmetics.
Claudia states that in a not too distant future her dream is to see her children become professionals and to have a general store to sell her merchandise in and thus have a less demanding work routine since her current way of working is very demanding because she has to wander the streets under the hot sun all day.
They thank Kiva lenders for the help they give small merchants of limited resources and from poor countries like Nicaragua to have a dignified way of earning a living.
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