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Banco Comunal Amor De Mujeres Group
In this Group: Otilia Maryini, Jeyling Josefa, Socorro De La Concepcion, Gertrudis Del Socorro, Oneyda De La Cruz, Meylin Del Socorro, Lourdes Cecilia, Migdania, Reyna Rafaela , Yalma , Martha Lorena, Ana Francisca, Heyling Adalila, Kenia Elena, Ana Maria , Ana Julia

Update on Banco Comunal Amor De Mujeres Group

The communal bank "Amor de Mujeres" is composed of sixteen members, all married. In total, the members have 20 children. They are hardworking, responsible and humble women, with a strong will to thrive and get ahead in life with their children. They come from the Sauce region, located in the north of the country. The region is known for its milk production.

Meylin is the coordinator of this communal bank. She sells milk and cottage cheese, both at home and as a street vendor. She is requesting a loan to invest in working capital and to stock her business with milk. The communal bank "Amor de Mujeres" appreciates the help provided by Kiva lenders, because thanks to them, people with less economic resources in poor countries like Nicaragua have access to decent sources of work.
View original language description ↓
El banco comunal Amor de Mujeres esta conformado por 16 integrantes, casados, con 20 hijos bajo su responsabilidad. Son personas trabajadoras, responsables, humilde, con ganas de superación personal para salir adelante con sus hijos. Ellos son originarios del departamento del Sauce, lugar que esta ubicado en la zona norte del país. Lugar que se caracteriza por ser una zona productora de leche. Meylin es la coordinadora del banco comunal Amor de Mujeres ella tiene por actividad económica la venta de leche y cuajada en su casa de habitación y de forma ambulante. El financiamiento lo necesita para invertir en capital de trabajo y surtir su negocio con la compra de leche. El banco comunal Amor de Mujeres agradece la ayuda que los inversionistas kiva les brindan a personas de escasos recursos y países pobre como es Nicaragua para tener fuentes de trabajo digno.

Previous Loan Details

Socorro, 63, is one of the members of the Amor de Mujeres community bank. She has 6 children, all of whom she supports. She has operated a business making and selling tortillas for 18 years. She operates her shop, called Las Mojarras, from her house. This is her first loan and she will use it... More from Banco Comunal Amor De Mujeres 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
  • 115
    View loans »
    Nicaragua Loans Fundraising
  • $23,803,650
    Funds lent in using Kiva
  • 24.0
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of Banco Comunal Amor De Mujeres Group's $4,325 loan helped a member to invest in working capital to stock her business.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 31, 2012
Listed
Nov 20, 2012
Currency Exchange Loss:
Possible
Ended:
Jul 18, 2013