Mujeres De Fortaleza Group
Update on Mujeres De Fortaleza GroupThe communal bank “Mujeres de Fortaleza” (Women of Strength) is made up of 8 members, all single mothers with 15 minor children under their responsibility. They come from Malpaisillo, a place that is characterized by its handicrafts and the production of milk, curds and cheese.
Unfortunately, since they were very young they have had to work in order to support their children and provide them better possibilities. Petrona is the coordinator of the communal bank, thanks to her spirit and desire to get ahead. As her economic activity, she sells curds in her house and as a street vendor. Petrona’s daily routine is to work some 8 hours offering her curds to the inhabitants of her community with a basket on her head of some 20 kg, an activity that she carries out with pleasure since it has been the way of life for her and her children.
The purpose of the loan is to invest in working capital and to stock her business in the buying and selling of curds in order to obtain a better income in the not too distant future.
The communal bank “Mujeres de Fortaleza” is grateful for the help that the Kiva lenders offer to people of limited resources and poor countries like Nicaragua so that they have a way to work with dignity.
Lamentablemente desde muy joven ha tenido que trabajar, para darles el sustento a sus hijos y brindarle mayores posibilidades. Petrona es la coordinadora del banco comunal, que gracias a su espíritu y ganas de salir adelante es que tiene por actividad económica la venta de cuajada en su casa y de forma ambulante. La rutina diaria de Petrona es trabajar unas 8 horas ofreciendo sus cuajadas a los pobladores de la comunidad. Con una pana en su cabeza de unos 20 kg, actividad que la realiza con mucho gusto ya que ha sido el medio de vida y la de sus hijos. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio en la compra y venta de cuajada para que en un futuro no muy lejano obtener mejores ingresos. El banco comunal Mujeres de Fortaleza agradece la ayuda que los inversionistas kiva le brindan a personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsThe communal bank "Mujeres de Fortaleza" (Women of Strength) consists of 8 members, all women from the same community. They are mothers of families and have (together) 15 dependent children. They belong to the Malpaisillo township, part of the city of León. Malpaisillo is a pretty place, with har... More from Mujeres De Fortaleza 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 24, 2013
- Jan 28, 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.