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Nuevo Amanecer Group
In this Group: Alba Justina, Demetria, Elki Francisca, Maria Elena, Josefa Ramona, Juditcia Del Carmen, Reyna Isabel, Marfalia Ofelia, Luisa Argentina, Rosario Del Carmen

Update on Nuevo Amanecer Group

Nuevo Amanecer (New Dawn) communal bank is made up of 10 members. They are all married and between them have 15 children under their care. These members are from the Sauce department; a place which is situated in the northern part of the country. Sauce is known for being an area that produces dairy products.

Alba Justina is the coordinator of the Nuevo Amanecer communal bank. She has a small shop in her house which sells everyday products such as rice, sugar, milk, bread, condiments, juices and tiste (a pre-Colombian drink made of cocoa and corn). The finance that she needs is to buy products to stock her shop.

Nuevo Amanecer communal bank thanks Kiva investors for their help as it offers dignified work to people with scarce resources and from poor countries like Nicaragua.
View original language description ↓
El banco comunal Nuevo Amanecer esta conformado por 10 integrantes, todos casados, con 15 hijos bajo su responsabilidad. Estos integrantes son originario del departamento del Sauce lugar que esta ubicado en la zona norte del país. Sauce se caracteriza por ser una zona productora de productos lácteos. Alba Justina es la coordinadora del banco comunal Nuevo amanecer ella tiene por actividad económica una pulpería en su casa de habitación, una pulpería es una pequeña tienda donde se venden productos de consumo diario para el hogar como arroz, azúcar, leche, pan, condimentos, jugos, tiste, entre otros. El financiamiento lo necesita para invertir en capital de trabajo y surtir su pulpería. El banco comunal nuevo amanecer agradece la ayuda que los inversionistas kiva le ofrecen a personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.

Previous Loan Details

The communal bank "Nuevo Amanecer" [New Dawn] is made of of ten entrepreneurs that have been working with Fundación León 2000. They each have their own business. Through the loans they have been offered, they have proven themselves to be people with goals in life and desires of getting ahead. ... More from Nuevo Amanecer Group's previous loan »

Additional Information

Fundación Leon 2000

This 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.

About Nicaragua

  • $3,636
    Average annual income
  • 140
    View loans »
    Nicaragua Loans Fundraising
  • $24,098,050
    Funds lent in using Kiva
  • 24.0
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of Nuevo Amanecer Group's $1,625 loan helped a member to stock her small shop with various products.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 22, 2012
Listed
Nov 19, 2012
Currency Exchange Loss:
Possible
Ended:
May 17, 2013
This photo was used before for a previous loan for Nuevo Amanecer Group. It was first posted on Kiva on Apr, 2012. Learn More