Estrella De Belen Group
Update on Estrella De Belen GroupEstrella de Belén Communal Bank has eight members, seven women and one men between the ages of 25 and 60. They have 10 dependent children in their care and are natives of the town of Malpaisillo, located in the southern part of the country. They're responsible and hardworking people who want to improve themselves personally.
As the coordinator of Estrella de Belén Bank, Francisca Yanet is in charge of the smooth running of the bank and ensuring the members' responsibility in making their payments.
Francisca's job is selling basic necessities in a specific location in town. The business entails bulk and retail sales of basic staples such as rice, beans, corn, oil, sugar, soap, detergent, salt, and matches. Her routine is to work about 10 hours a day.
The goal of the loan is to invest in working capital and supply her business a bit more to satisfy customer demand.
Francisca Yanet is grateful for the help the Kiva lenders give to low-income people and poor countries like Nicaragua so they have a means to a life of dignity.
Previous Loan DetailsThe community bank "Estrella de Belén" is made up of nine members: Judit, Jessica, Corina, Cristian, Francisca, Rosibel, Marileth, Julissa, and Jerry, each with different economic activities. Judit has a small store as her business, which she has been running for the past three years. The loan… More from Estrella De Belen 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