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Magnolia Group
In this Group: María Elena , Mercedes De Los Ángeles, Samaria De Los Ángeles, Marina Isabel , Damarys De La Concepción

Update on Magnolia Group

Grupo Magnolia is made up of five small business owning female entrepreneurs who all work in areas similar to Samaria, who has been selling new clothing and underwear for three years. She has been a group member for four years and she will invest this loan in buying new clothes and underwear of higher quality. Her hope is to manage to maintain her own working capital.

Maria Isabel has a business selling fried snacks. Concepción sells Avon cosmetics and shoes. Maria Elena sells fried snacks at stadiums, and Mercedes has a fruit stand in her home and a corner store.
View original language description ↓
Grupo Magnolia formado por cinco socias microempresarias emprendedoras las cuales todas tienen actividades como Samaria vende ropa nueva y ropa interior desde hace 3 años, tiempo de estar con la institución 4 años el crédito lo invertirá en la compra de ropa nueva y ropa interior de mejor calidad, sus aspiraciones es llegar a tener su propio capital de trabajo, María Isabel su negocio es venta de fritanga, Concepción vende cosméticos de la Avon, y zapatos, María Elena vende fritanga en los estadios ambulante, Mercedes tiene un puesto de verduras en su domicilio y una pulpería.

Previous Loan Details

Magnolia is made up of 5 hard-working women, born fighters and empresarial women who make the most of the loan opportunities, general training and empowerment that Adim has given them. One example is Samaria T. M., coordinator of the group, who in 2006 began taking breakfasts to her workplace. A ... More from Magnolia Group's previous loan »

Additional Information

About ADIM

Located in Central America, ADIM is a small microfinance institution with a strong social focus. In the saturated microfinance market of Nicaragua, ADIM stands out for its emphasis on the holistic development of women as well as its provision of responsible financial services. Founded in 1989 by a small group of Nicaraguan women, this institution has remained true to its initial goal of providing its clients (90% of which are women) with an opportunity for economic growth, in addition to personal and professional empowerment. Supporting an ADIM borrower means contributing not only to the continued offering of the socially conscious services it provides, but also to the sustainable growth of a truly unique microfinance institution.

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.

About Nicaragua

  • $3,636
    Average annual income
  • 124
    View loans »
    Nicaragua Loans Fundraising
  • $23,814,675
    Funds lent in using Kiva
  • 23.8
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of Magnolia Group's $2,450 loan helped a member to purchase new clothing and underwear of higher quality for sale.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 12, 2012
Listed
Oct 15, 2012
Currency Exchange Loss:
Covered
Ended:
Jun 17, 2013