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Las Pilitas Group
In this Group: Magdalia Gisell, Francisca Del Rosario, Julia Yilda, Blanca Azucena , Evangelista Teresa, Mayra Mercedes , Simon Fidel , Mirenia Karina

Update on Las Pilitas Group

The “Las Pilitas” communal bank is made up of eight members; seven women and one man all with families and a total of 10 children to care for. These members are hardworking, responsible people with good customs. These members are all from Sauce, which is located in the northern zone of the country.

Migdalia is the bank’s coordinator and is in charge of making payments for the group. She sells curds on foot and from her home. Her daily routine is to arise at 5:00 am to prepare her curds and go out to sell in the community. She will use the money from this loan to buy more milk and curd. The “Las Pilitas” communal bank is grateful to the Kiva lenders who help people of low resources in poor countries like Nicaragua, to have a dignified means of work.
View original language description ↓
El banco comunal las Pilitas está conformado por 8 integrantes, siete mujeres, y un hombre. Con familias y con 10 hijos bajo su responsabilidad. Estos integrantes del banco son personas trabajadoras, responsables, de buenas costumbres. Estos integrantes son originarios del Sauce, lugar que está ubicado en la zona norte del país. Migdalia es la coordinadora del banco comunal las pilitas la cual se encarga de las responsabilidad del cumplimientos de las cuotas en tiempo y forma. Ella tiene por actividad económica la venta de cuajadas de forma ambulante y en su casa de habitación. La rutina diaria de Migdalia es levantarse a las 5: am para preparar su pana de cuajada y salir a vender de forma ambulante en su comunidad. El objetivo del crédito es invertir en capital de trabajo de comprar más leche y cuajada para preparar la cuajada. El banco comunal las Pilitas agradece la ayuda que los inversionistas kiva les brindan a personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.

Previous Loan Details

The Communal Bank "Las Pilitas" consists of nine entrepreneurs who have joined together so that they can move forward with each of their businesses. They support and motivate one another as they move forward and all of them bring new ideas for their businesses.

Francisca Del Rosario is o... More from Las Pilitas 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
  • 119
    View loans »
    Nicaragua Loans Fundraising
  • $24,043,075
    Funds lent in using Kiva
  • 24.0
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of Las Pilitas Group's $1,525 loan helped a member to buy milk.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 4, 2012
Listed
Dec 19, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 18, 2013