Mujeres De Confianza Group
Update on Mujeres De Confianza GroupThe 'Mujeres de Confianza' community bank has nine members who are single mothers with 16 children in their care. They live in the town of El Sauce which is located in the north of the country. This area is known for its milk, cheese, curds and cream production. The members of the 'Mujeres de Confianza' community bank are very hard-working, responsible women. They are humble, agricultural workers who know each other and support each other.
Reyna Isabel is the coordinator of this group. She ensures its smooth running and is responsible for making sure everybody pays on time and in full. Reyna Isabel's business is selling curds as an itinerant street vendor. She also makes sales from home. She has been in this business for 10 years. Reyna works nine hours a day, from 6.00am to 3.00pm. She goes out in her community and offers her curds for sale, loading them into a basket that she carries on her head. Reyna says that although her routine is arduous she is grateful that she has this way of making a decent living which enables her to provide for her young children. The 'Mujeres de Confianza' community bank is grateful for the help that Kiva lenders provide to people with limited resources in poor countries such as Nicaragua. It allows them to earn a decent living.
Previous Loan DetailsThe communal bank has nine members and this isn’t the first time they’ve requested credit. The group has stayed together since it was formed. They themselves support and motivate each other to get ahead and improve their quality of life especially in each of their businesses. Lizbeth is ... More from Mujeres De Confianza 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.
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