Las Marias Group
Update on Las Marias GroupThe communal bank LAS MARÍAS is comprised of nine members, eight women and a man, who are responsible heads of family with a total of 15 children in their care. They are from Sauce which is located in the northern part of the country and known for its milk, cottage cheese and cheese. These are responsible, hard-working people who have paid back their previous loans on time.
Thanks to their spirit and determination to get ahead, they are involved in different business activities. María Angélica is the coordinator of the group and earns an income selling cottage cheese at home and as a street vendor. Her work routine involves ten hours a day of work wearing a 20 kg bundle on her head offering cottage cheese to people in her village. She enjoys her work as this is how she earns a living for her family. The aim of the loan is to buy more goods to sell so she can improve her income. The communal bank LAS MARÍAS is grateful to Kiva lenders for their help in poor countries such as Nicaragua, to low income earners so they can earn a decent living.
Gracias a su espíritu y ganas de salir adelante tiene diferentes actividades económicas. María Angélica es la coordinadora del banco y tiene por actividad económica la venta de cuajada en su casa de habitación y de forma ambulante. La rutina de trabajo de Angélica es trabajar unas 10 horas diarias, con una pana en su cabeza de unos 20 kg ofreciendo sus cuajadas a los pobladores de su localidad. Actividad que la desempeña con mucho gusto ya que ha sido su forma de vida y la de su familia. el objetivo del credito es invertir en capiitla de trabajo y surtir su negocio. para que en un futuro no muy lejano obtener mejores ingresos. El banco comunal las Marías 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 DetailsThe “Las Marías” communal bank has 10 members: Alma Lizeth, María Angélica, José María, Eugenia Estela, María Inés, Petrona Jannette, María Maribel, Paz Julia, Raquel Cristina, Donald Antonio and Mauda José. They are all hard-working, enterprising, and tenacious who very much want to get ahead. ... More from Las Marias 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