Jehova Es Mi Pastor Group
Update on Jehova Es Mi Pastor GroupThe Jehová es mi Pastor ("Jehovah is my Shepherd") communal bank is made up of 14 members, all adults with 20 children in their care. They are from the municipality of Malpaisillo in the department of León, which is located in the western part of the country. León is characterized by hardworking, responsible, and friendly people.
This bank decided to unite and take advantage of the benefits of a loan to work in their different businesses. They know each other and support each other to succeed. The bank's coordinator is Alejandra Catalina. She makes a living with a small grocery store, or "pulpería," located in her home. A pulpería is a small store which sells groceries in small quantities such as coffee, shampoo, rice, cooked beans, oil, soap, juice, soda, cookies, detergent, bread, and eggs. Alejandra's daily routine is to work for 10 hours attending clients.
The goal of this loan is to invest in working capital and stock her small business in order to offer a better service to the people of her neighborhood. The communal bank is grateful for the help which Kiva lenders provide to people with limited resources in countries lacking sources of employment, such as Nicaragua, so that they can have a decent livelihood.
Previous Loan DetailsThe community bank "Jehova is my Shepherd" is made up of 13 members who are: Lissett del Socorro, Alejandra Catalina, Dora del Carmen, Audelis del Carmen, Aurelia Maria, Pascual Arnulfo, Maria Teresa, Maria Amparo, Vilma Isabel, Anielka Maria, Esperanza, Reyna Maria, Estela. They all perform… More from Jehova Es Mi Pastor Group's previous loan »
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).
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.
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Success!! The loan was 100% repaid