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San Fernando Ii Group
In this Group: Rosalina , Norma , Maria Leonor , Modesta Aurora , Zacarias Del Socorro , Leonidas Del Carmen , Maria Marcos , Ivania Del Socorro, Santos Isabel

Update on San Fernando Ii Group

The San Fernando Community Bank is comprised of nine members, all single mothers, with a total of 16 children to care for between them. They are each from El Sauce, a town in the northern part of the country. The region is known for its milk, cheese, and curd production.

Unfortunately these women have not had the opportunity to study due to a lack of economic resources, but they each desire a better future for their children. Thanks to her entrepreneurial spirit and desire to succeed, Modesta Aurora has a job selling cuajada as a street vendor and from her home. Her routine is to work eight hours a day under the hot sun, carrying a 20 kg (roughly 45 lbs) basket of cuajada on her head. She carries out this duty with pleasure as it is her way of making a living for herself and her children.

The San Fernando Community Bank appreciates the assistance that Kiva donors offer to persons of limited resources and impoverished countries such as Nicaragua so that people may obtain dignified employment.
View original language description ↓
El banco comunal San Fernando está conformado por 9 integrantes, madres solteras, con 16 hijos bajo su responsabilidad. Son originarias del Sauce, lugar que está ubicado en la zona norte del país. Y se caracteriza por ser una zona productora de leche, cuajada, queso. Lamentablemente estas mujeres no han podido estudiar, por falta de recursos económico, por lo tanto ellas desean un futuro mejor para sus hijos.
Gracias a su espíritu de emprendedor y sus ganas de salir adelante, Modesta Aurora tiene por actividad económica la venta de cuajada de forma ambulante, y en su casa de habitación. la rutina de esta mujer es trabajar una 8 horas diarias bajo el intenso sol, cargando una pana de cuajada en su cabeza de unos 20 kg. Actividad que la desempeña con mucho gusto porque ha sido su forma de vida y la de sus hijos. El banco comunal San Fernando 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 community bank San Fermando is made up of Maria Leonor, Elias, Maria, Modesta Aurora,Ivania del Socorro, Rosalina, Norma, Leonidas del Carmen, Zacarias del Socorro. They all have differing economic activities. Modesta Aurora is the bank coordinator, she is in charge of the enforcement and f... More from San Fernando Ii 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

  • $3,636
    Average annual income
  • 120
    View loans »
    Nicaragua Loans Fundraising
  • $24,405,100
    Funds lent in using Kiva
  • 24.1
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of San Fernando Ii Group's $1,550 loan helped a member to invest in working capital and stock their business buying and selling cuajada (cheese curd) for retail sale as street vendors.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 24, 2013
Listed
Jan 28, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013