Dios Primero Group
She belongs to the Group "Solidario Dios Primero", which has three members, one of whom is Glendys, 37, who is married with one 10-year-old son who is in primary school. She began her business with the support of her husband who emigrated to the U.S. to improve the financial conditions of their family and helped her to start up the business, which they have used to buy and sell new clothing for four years.
Another group member is Claudia María, 33, who is married and has one 8-year-old son who is in primary school. She has a business buying and selling new and used clothing. She began her business with her own efforts. When she was a student, she wanted to help her mother to pay for her studies, since all of her siblings were studying as well. She began by buying products on credit and now she has had this business for 11 years.
These women's home county, in the region of Pilas, is Villanueva Municipality in Chinandega. In these regions there is a great demand for clothing sales, and in terms of edible products it is a location where cattle and agriculture predominate.
They need financing to help stock up their businesses, and they are thankful for the support that is being offered to them to help them continue with their businesses.
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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Success!! The loan was 100% repaid