San Ramon Solidarity Group
Update on San Ramon Solidarity GroupThe San Ramón group consists of two members, Delmi Raquel and Martha Lorena. Both are single. They are from the department of Chinandega, which is located in the western part of the country, which is a very commercial area with a lot of activity. Delmi has two children, ages 3 and 7, both of whom are in school. She began her business with the help of her mother, who has always supported her, and as the opportunity arose to sell to sugar mill workers, she decided to set out on her own, and, thanks to God, it has gone well for her so far. Martha has five children, ages 24, 29, 30, 31, and 34, all of whom are working. She began her business looking for a means of subsistence because her children were in school. She was both mother and father at the same time for them. First she began with the sale of soft drinks and enchiladas on buses, but later she began to prepare meals, and in this way she began to acquire customers. Now her business is her main source of employment. Each has had her business for more than 10 years. They are applying for the loan to buy rice, beans, oil, disposable plates, soft drinks, sugar, coffee, and other items. The San Ramón group is grateful for the help that the Kiva investors offer to people of scarce resources and poor countries such as Nicaragua to have a means of dignified work.
Previous Loan DetailsDelmir Raquel and Martha Lorena form San Ramón Solidarity Group. Delmir has made a living selling food, beverages and deserts for more than nine years. Martha also makes a living in the same activity, so together they have been able to cope with problems that have arisen. They are requesting the… More from San Ramon Solidarity 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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