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Banco Comunal El Milagro Group
In this Group: Candida Del Rosario , Danelia Lisseth, Teofila , Alba Rosa, Maria Josefa , Adelayda , Alba Lidia , Esmeralda Del Socorro, Felipa

Update on Banco Comunal El Milagro Group

The communal bank Milagro is composed of nine members. All are single mothers with a total of twenty children in their care. They are originally from Sauce which is located in the northern part of the country. These women pride themselves in being hardworking, responsible, and with strong ambitions because they have been working since they were young to help support their families.

Candida Rosa is the coordinator of the communal bank. She is responsible for ensuring the timely payment of the member's loans. She makes a living by making and selling tortillas from her home. Her daily routine consists of working twelve hours a day starting at five in the morning when she begins to grind the corn until five in the evening until she is done selling them.

With this loan she plans to invest in working capital to purchase raw material like corn, wood, lime, gas, and plastic bags. The communal bank el Milagro is grateful for the help that Kiva investors bring to people of low income and underdeveloped countries like Nicaragua so that they can have a better working environment.
View original language description ↓
El banco comunal el Milagro está conformado por 9 integrantes, madres solteras, con 20 hijos bajo su responsabilidad. Son originarias del Sauce, lugar que está ubicado en la zona norte del país. Estas mujeres se caracterizan por ser trabajadoras, responsables, con ganas de superación personal, ya que desde muy joven han tenido que trabajar para ganarse el sustento diario y de su familia. Cándida Rosa es la coordinadora del banco comunal la cual se encarga de la responsabilidad de pago de sus integrantes en tiempo y forma. Ella tiene por actividad económica elaboración y venta de tortillas en su casa de habitación. La rutina de esta mujer es trabajar unas 12 horas diarias desde las 5: am que se levanta a nixquezar el maíz y moler el maíz y elaborar sus tortillas hasta las 5 pm y comercializándolas. el objetivo del credito es invertir en materia prima para la elaboracion de tortillas como maiz, lena, cal, gas, bolsas plasticas. El banco comunal el Milagro 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 communal bank "El Milagro" has 9 members who united to support their businesses so that they could contribute financially to the expenditures of their households. The members are: Aydalina, Alba Rosa, Adelayda, Candida, Alba Lidia, Teofila, Danelia, Maria Josefa, and Esmeralda. Teofila i... More from Banco Comunal El Milagro 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

  • $4,800
    Average annual income
  • 96
    View loans »
    Nicaragua Loans Fundraising
  • $24,742,900
    Funds lent in using Kiva
  • 24.2
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of Banco Comunal El Milagro Group's $2,350 loan helped a member to invest in working capital to purchase raw material like corn, wood, lime, gas, and plastic bags.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Jan 29, 2013
Jan 30, 2013
Currency Exchange Loss:
Oct 17, 2013
This photo was used before for a previous loan for Banco Comunal El Milagro Group. It was first posted on Kiva on Aug, 2012. Learn More