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Mi Bendicion Group
In this Group: Leyda Maria , Maria Eusebia , Teresa De Jesus , Sabina , Martha Lorena , Karla Damaris , Maria De Los Angeles, Alba Jiomar

Update on Mi Bendicion Group

The communal bank Mi Bendición is made up of 8 women, single mothers, responsible for 15 minor children. They are originally from El Sauce which is a municipality in the northern part of the country. El Sauce is known as a dairy area, and also for raising pigs, chickens and cattle. The members of the bank are known to support each other in their various financial activities, helping each other to benefit from the funding.

Alba is the coordinator of the bank and it is her responsibility as the one in charge of the bank to collect payments in a timely way. Her financial activity is the sale of general merchandise which consists of buying and selling clothing such as pants, skirts, dresses, shirts, underwear, bed linens, and pajamas.

The purpose of the loan is to have working capital for investing to supply her business for buying and selling the merchandise to take advantage of the best sales of the year. The communal bank Mi Bendición is grateful for the support of the Kiva loaners that support people who have scarce resources and poor countries such as Nicaragua to have a decent working environment.
View original language description ↓
El banco comunal mi Bendición está conformado por 8 integrantes mujeres, madres solteras, responsables de 15 hijos menores de edad. Ella son originarias del Sauce lugar que está ubicado en la zona de norte del país. El sauce se cacteriza por ser una zona productora de los derivados de la leche. Y la crianza de cerdos, gallinas, ganado. Las integrantes del banco se conocen entre sí se apoyan mutuamente en sus diferentes actividades económicas las cuales decidieron apoyarse para beneficiarse con el financiamiento. Alba es la coordinadora del banco la cual se encarga de la responsabilidad del banco y sus cuotas en tiempo y forma. Ella tiene por actividad económica la venta de mercadería en general la cual consisten en compra y venta de ropa como pantalones, faldas, vestidos, camisetas, ropa interior, ropa de cama, piyamas. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio en la compra y venta de mercadería para aprovechar las mejores ventas del ano. El banco comunal mi Bendición 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 Mi Bendicion (“My Blessing”) is comprised of the following members: Leyda María, María de los Ángeles, Sabina, Teresa Jesús, Martha Lorena, Jerry Antonio, Karla Damaris, Alba Jiomar and María Eusebia. These entrepreneurs started their businesses through their own hard work a... More from Mi Bendicion 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

  • $4,800
    Average annual income
  • 134
    View loans »
    Nicaragua Loans Fundraising
  • $24,576,775
    Funds lent in using Kiva
  • 24.1
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of Mi Bendicion Group's $725 loan helped a member to have working capital to supply her business so she can buy and sell merchandise such as pants, skirts, dresses, shirts, underwear, bed linens, and pajamas.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 11, 2012
Listed
Dec 21, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 18, 2013