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El Progreso Group
In this Group: Maria Emperatriz, Francis Betania, Manuel Antonio, Ramona Antonia, Blanca Azucena, Juan Doroteo, Petrona, Claudia Slite, Alejandrina Del Rosario

Update on El Progreso Group

The El Progreso communal bank has 9 members, 7 women and two men, mothers and fathers with families and a total of 20 children in their care. They are from El Sauce, a place that is located in the northern area of the country. El Sauce is known for the production of dairy products, cream, milk, curds and cheese. The members of this bank are responsible, hard-working people with the desire to get ahead. Unfortunately none of them were able to study; so they strive day after day to give their children a better future.

The coordinator of the El Progreso communal bank is María Emperatriz, and her business is the sale of baked goods, a typical food of the region. She runs her business in an itinerant fashion, with a 20 kg basket on her head, offering her products to established and potential clients. The objective of the loan is to invest in working capital, in the purchase of raw material for making baked goods like corn, firewood, milk, curds, sugar and plastic bags, so that she will have better earnings in the not-so-distant future. The El Progreso communal bank thanks the Kiva investors for their help providing people with scarce resources and poor countries like Nicaragua to have a dignified means of work.
View original language description ↓
El banco comunal el El Progreso está conformado por 9 integrantes, 7 mujeres y dos hombres, madres y padres de familia, con 20 hijos bajo su responsabilidad. Son originarios del Sauce, lugar que está ubicado en la zona norte del país. El sauce se carateriza por la producción de productos lácteos, crema, leche, cuajada, queso. Los integrantes del esta banco son personas responsables, trabajadoras, con ganas de superación personal. Lamentablemente ninguna pudo estudiar por falta de recursos económicos; por que luchan día a día para brindarle un futuro mejor a sus hijos.
La coordinadora del banco comunal el progreso es María Emperatriz, y tiene por actividad económica la venta de cosa de horno, comida típica de la región, actividad que la desempeña de forma ambulante, con una pana sobre su cabeza de unos 20 kg ofreciendo su productos a clientes fijos y eventuales. El objetivo del crédito es para invertir en capital de trabajo en la compra de materia prima para elaborar las cosas de horno como maíz, leña, leche, cuajada, azúcar, bolsas plásticas. Para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal El progreso agradece la ayuda que los inversionistas kiva le brindan personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.

Previous Loan Details

The “El Progreso” (Progress) communal bank has 8 members; six women and two men. Their ages range from 30 to 65 and they have ten children in their care. These members are all from Sucre, a place located in the northern part of the country. The bank members have stood out for being responsible... More from El Progreso 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

  • $3,636
    Average annual income
  • 154
    View loans »
    Nicaragua Loans Fundraising
  • $24,072,325
    Funds lent in using Kiva
  • 24.3
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of El Progreso Group's $1,500 loan helped a member to invest in working capital and to buy raw material for making baked goods like corn, firewood, milk, curds, sugar and plastic bags.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 5, 2013
Listed
Mar 8, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013