Luz De Campo Group
Update on Luz De Campo GroupThe Luz de Campo group consists of 10 members: nine women and a man. They are parents who are responsible for 20 children. They are natives of Malpaisillo, which is located in the western part of the country and is known for its handicrafts and its farming. These people have demonstrated responsibility with making their payments on time. Sadly none of them could study for a degree because of a lack of resources, so they fight every day to provide a better future for their children. The coordinator of the group is Tomasa, who makes a living selling crafts like items made from clay, kitchen decorations, vases, decorative butterflies, and salt and pepper shakers. Her work routine is to go out for some 10 hours a day offering her products to steady customers and would-be clients. She plans to use the loan as working capital to stock her business with more crafts so in the not-too-distant future she can have more income. Luz de Campo is grateful for the help Kiva lenders provide to people of scarce resources in poor countries like Nicaragua so they can have means to a decent living.
La coordinadora del banco comunal es Tomasa del Socorro, y tiene por actividad económica la venta de artesanía como productos elaborados de barro, como casa de barro. Adornos de cocina, floreros, mariposas de adornos, alcansillas, saleros, pimenteros. La rutina de trabajo de Socorro es salir a trabajar de forma ambulantes unas 10 horas diarias ofreciendo sus productos a clientes fijos y eventuales. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio, con más productos artesanales. Para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal Luz de Campo 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 communal bank Luz de Campo consists of 12 members, of whom 11 are women and 1 is a man. All are from the same community. The ages of the members of the bank are between 35 and 60 years old. The majority of the women who make up the Luz de Campo bank are mothers of families, and they are respo... More from Luz De Campo 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.
83View loans »
Success!! The loan was 100% repaid