Banco Comunal Arca De Noe Group
Update on Banco Comunal Arca De Noe GroupThe Arca de Noe (Noah’s Ark) communal bank has nine members. They are all single mothers with 24 children in their care. They are in Sauce which is located in northern part of the country. Sauce is an area known for the production cuajada (curd), cream, milk and cheese. These women have been characterized as hard-working, determined, humble people from the country. They came together in order to be eligible for a communal bank loan. They know each other and support each other with their businesses. Adriána Esperanza is the coordinator who is responsible for making sure the members make their payments on time. Adriana sells cuajada through a delivery service. She goes out to the streets to sell for ten hours a day under the intense sun with a weight of 20kg. She wants to give food and better opportunities to her children. She is requesting a loan to invest in working capital for the purchase and sale of cuajada in order to satisfy the demands of her customers and to improve her earnings. Adriana is grateful for the help the Kiva investors give to poor people and countries like Nicaragua in order to give them a decent work environment.
Previous Loan DetailsThe Arca De Noé (Noah's Ark) communal bank is made up of Josefa, Marcela Zenayda, Jasmina Del Carmen, Adriana Esperanza, Martha Del Socorro, Blanca Nubia, Gladis Del Rosario and Deyanira. They are very responsible women who enjoy having a way to make a living and move forward. Martha has sold ... More from Banco Comunal Arca De Noe 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
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Success!! The loan was 100% repaid