Las Ovejas De Cristo Group
Update on Las Ovejas De Cristo GroupThe “Ovejas de Cristo” (Sheep of Christ) communal bank is made up of 11 members, including eight women and three men. All are mothers and fathers of families and are responsible for a total of 20 children. They are from Malpaisillo, which is located in the north of the country. Malpaisillo is known for being an agricultural zone where corn and bananas are grown. These members are known for being hard- working, responsible people who pay their loans on time and schedule. These members joined together to request a loan and although they each have a different business, they mutually support each other. In Reyna Elizabeth’s case, she is the coordinator for the bank and has a clothing sales business located in her house and she sells by foot to fixed clients and the public. The loan she is requesting is to buy clothing, like pants, shirts, skirts, shorts, undershirts, underwear, bed sheet sets. The “Ovejas de Cristo” communal bank is grateful for the help the Kiva investors provide to people with little recourse in countries like Nicaragua, so they can have dignified work.
Previous Loan DetailsThe 'Las Ovejas de Cristo' community bank has 10 members who are all hard-working, responsible, tenacious people. They joined together through the need that they had to have work in order to make income for their families. The members are: Erika Patricia, Cristina, Claudia Vanessa, Reyna… More from Las Ovejas De Cristo 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