Cristo Nos Guia Group
Update on Cristo Nos Guia GroupThe communal bank Cristo Nos Guia (Christ Guides Us) consists of 11 members, all single mothers with 18 children under their responsibility. These women are characterized by being hard-working and responsible with the personal will to overcome. They have had to work since they were very young, since due to the lack of economic resources, they had to help their parents with their physical labor. They are natives of Sauce, a place that is located in the northern part of the country. All of them are mutually supportive with their different economic activities.
Juana Francisca is the coordinator of the communal bank Cristo Nos Guia, and she has the responsibility for the members of the bank with regard to [making] the payments on time and in the correct form. Her business activity is the sale of merchandise in general, which consists of buying and selling pants, blouses, skirts, shorts, t-shirts, camisoles, underwear, nightwear, and pajamas. Her goal for the loan is to invest in working capital and meet the demands of her customers and in the not-too-distant future increase her income.
The communal bank is grateful for the help that the Kiva investors offer to people of scarce economic resources and poor countries such as Nicaragua so that they can have a dignified means of work.
Previous Loan DetailsPabla Isabel, Nora Elena, Juana Francisca, Angela del Rosario, Marisela del Carmen, Raquel Verónica, Martha, Juana de Dios, Justina, Lisbeth Lucia, and Olga del Carmen are members of the “Cristo Nos Guía” [God Guides Us] communal bank. These entrepreneurs are very hard-working and tenacious… More from Cristo Nos Guia 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
- Repayment Term
- 8 months (Additional Information)
- Repayment Schedule
- Jan 8, 2013
- Jan 9, 2013
- Currency Exchange Loss:
- Aug 18, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.