Dios Es Amor Group
Update on Dios Es Amor GroupThe Dios es Amor communal bank is made up of 9 members who are single mothers. They have 20 children under their responsibility. They are from Malpaisillo, a place located in the northern part of the country. They are described as being hardworking and responsible. They have made all of their previous payments on time and correctly. They are eager to get ahead. Unfortunately, none of them was able to go to school because of the poverty they live in. They fight every day to get ahead with their young children.
Thanks to their enterprising spirit, they have different economic activities. Bertha is the communal bank's coordinator and her economic activity is selling cheese, milk and curds from her home and as a street vendor. She works at her activity 8 hours a day, offering her products to regular and new customers. The purpose of the loan is to invest in working capital to buy milk and curds so that in the near future she can improve her income. The Dios es Amor communal bank is grateful for the help from the Kiva investors that they offered to poor people in places like Nicaragua so they can have dignified work.
Gracias a su espíritu de emprendedor, tiene sus diferentes actividades económicas. Bertha es la coordinadora del banco comunal y tiene por actividad económica la venta queso de leche, y cuajada en su casa de habitación y de forma ambulante. Ella dedica a su actividad unas 8 horas diaria, ofreciendo sus productos, a clientes fijos y eventuales. El objetivo del crédito es invertir en capital de trabajo en la compra y venta de leche, y cuajada para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal Dios es Amor agradece la ayuda que los inversionistas kiva le brindan a personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsThe 'Dios es Amor' (God is Love) community bank has nine members who are all adults with families to care for. Between them they have 15 dependent children who are all in school. The members of this group are hard-working, responsible people who know each other because they are all from the sam... More from Dios Es Amor 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
- Repayment Term
- 7 months (Additional Information)
- Repayment Schedule
- Mar 26, 2013
- Apr 6, 2013
- Currency Exchange Loss:
- Sep 17, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.