The “Montiel” communal bank has five members, four women and one man. All have families and are responsible for a total of 12 children. They are from Chinandega, a place located in the west of the country. This group is noted for having hardworking, responsible members.
Reyna is group coordinator; she’s in charge of seeing that each member makes payments on time as scheduled. Her economic activity is selling general merchandise consisting of pants, shirts, skirts, dresses, underwear, towels, bed linen, shoes and cosmetics. The goal of the loan is to invest in working capital and stock up on new merchandise to offer her regular and occasional customers and take advantage of the Christmas season. The Montiel group is grateful for the help Kiva lenders provide people of scarce resources and to poor countries like Nicaragua to have dignified sources of employment.
El grupo solidario Montiel está conformado por cinco integrantes cuatro mujeres y un hombre, todos con familias y responsable de 12 hijos bajo su responsabilidad. Ellos son originarios de Chinandega, lugar que está ubicado en la zona de occidente del país. Este grupo se caracteriza por tener integrantes trabajadores, responsables. Reyna es la coordinadora del grupo solidario la cual se encarga del cumplimiento de sus integrantes en cuanto a las cuotas en tiempo y forma. Reyna tiene por actividad económica la venta de mercadería en general la cual consiste en vender pantalones, camisas, faldas, vestidos, ropa interior, toallas, juegos de camas, zapatos, cosméticos. El objetivo del préstamo es invertir en capital de trabajo y surtir su negocio con nueva mercadería para ofrecer a sus clientes fijos y eventuales y aprovechar la temporada navideña. El grupo solidario Montiel 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.
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).
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.