G.s. Milagro De Jesus Group
Update on G.s. Milagro De Jesus GroupThe solidarity group Milagro de Jesús is made up of three members: Maura Elena, Perfecta Rosa, and María Mercedes. Two of them are single mothers and one is married. Between them, they have seven children. They live in the municipality of Sauce, a place characterized by its production of milk, milk curds, and cream, and for the raising of pigs and chickens. All of the women are responsible and hard-working. Maura Elena is the group's coordinator. She works selling soft drinks, and also raising and selling pigs. She has been in this business for nine years. Her work routine is to wake up at 5 am and prepare her natural soft drinks in order to go out and sell them in the street. Maura Elena is applying for a loan to buy fruits such as pineapple, watermelon, melon, dragon fruit, passion fruit, and oranges, to make her drinks. The solidarity group Milagro de Jesús is grateful for the help that Kiva investors give to people with few resources and from poor countries like Nicaragua, so that they can have decent work.
Previous Loan DetailsThe 'Milagro de Jesús' communal bank is made up of 32 year-old Maura and 66 year-old Perfecta who have known how to get ahead together in spite of the fact that they have different business activities. Maura sells soft drinks and pigs. She has been in this business for 5 years because she has a... More from G.s. Milagro De Jesus 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