Divino Nino Group
Lucia is the coordinator of the communal bank who works in the sale of cuajada cheese, traveling and in her home. Lucia’s daily routine is to go out to the street with a bowl of about 10 kilograms on her head for about 8 hours a day to sell cuajada cheese to permanent and possible customers. The result of this activity has been her livelihood and the support of her children. She is struggling day to day to come out ahead. She needs the funding to invest in the working capital for the purchase and sale of cuajada cheese. The communal bank Divino Nino appreciates the help that the Kiva investors provide to these people of limited resources and poor countries like Nicaragua to be able to have dignified work.
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).
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