Grupo La Fe Group
Juana Regina is the group’s coordinator and raises and sells pigs from her home. Her routine is to go out to the adjacent communities to look for pigs to raise and sell.
The business was born from a need to have a means of working to help with the household expenses. She is asking for this loan so that she can buy and sell a group of pigs that she can get at a good price. In this way she can take advantage of the Christmas season, when her sales increase.
The “Groupo la Fe” communal bank appreciates the assistance that the Kiva investors are providing to persons of limited means, in poor countries like Nicaragua, so that they can have a means of 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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