Los Angeles Group
Thanks to her capacity for entrepreneurship and desire to overcome, Frania del Socorro is the coordinator of the bank and has a small grocery business located in her home. A “pulpería” is a small store where grocery products are sold in small quantities like: matchboxes, coffee packets, cigarettes, rice, beans, salt, bread, eggs, tiste, chicha, juices, sodas, and tortillas. Frania’s daily routine is to work about 10 hours a day offering her products. The objective of the loan is to invest in working capital and stock her business in the buying and selling of grocery products for her small store, and to earn a better income in the not-so-distant future. The Los Ángeles communal bank thanks the Kiva investors for the help they provide to people with scarce resources in poor countries like Nicaragua so they can have a dignified means of work.
Gracias a su capacidad de emprendimiento y ganas de superación, Frania del socorro es la coordinadora del banco y tiene por actividad económica una pulpería ubicada en su casa de habitación. Una pulpería es una pequeña tienda donde se vende productos comestibles en cantidades pequeñas como: caja de fosforo, sobre de café, cigarro menudeados, arroz, frijoles, sal, pan, huevos, tiste, chicha, jugos. Gaseosas, tortillas. La rutina diaria de Frania es trabajar unas 10 horas diarias ofreciendo sus productos. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio en la compra y venta de productos comestible para su pulpería. Y en un futuro no muy lejano obtener mejores ingresos. El banco comunal Los Ángeles 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.
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).
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