Divino Niño Sauce Group
Update on Divino Niño Sauce GroupThe Divino Niño El Sauce communal bank is made up of eight members, seven women and one man who are single parents with 20 children. They're from El Sauce, located in the northern part of the country. These members are hardworking and responsible people with a desire for personal improvement. Unfortunately none of them were able to study because they had to work from an early age.
The coordinator of the communal bank is Rosa Melida, who's responsible for making the bank members' payments punctually. Her job is selling bread in the street and at home. She works some eight hours a day selling her bread from a 20-kilogram basket on her head. She does her job with great pleasure because it's how she supports herself and her children.
The goal of the loan is to invest in buying a variety of bread to sell to her customers, including rolls, sugar cookies, spice bread, and pineapple tarts. This way she can have a better income in the near future.
The Divino Niño Sauce communal bank is grateful for the help Kiva investors give to low-income people and poor countries such as Nicaragua so they have the means to a decent job.
La coordinadora del banco comunal es Rosa Melida la cual se encarga de la responsabilidad de pago de las integrantes del banco comunal que lo realicen en tiempo y forma. Ella tiene por actividad económica la venta pan de forma ambulante y en su casa de habitación, actividad. Ella dedica unas 8 horas diarias a ofrecer el pan con un canasto sobre la cabeza de unos 20 kg, actividad que la desempeña con mucho gusto, porque es su medio de vida y la de sus hijos. El objetivo del crédito es invertir en la compra de pan variado para ofrecer a sus clientes como pico, semita, cachos, marquetas cortadas, polvorones, pan de especies, torta de pinas, rin. Para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal Divino Nino Sauce 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 community bank Divino Nino el Sauce is formed by eight members originally from the department of Sauce, located in the North part of the country, El Sauce is known for producing milk, cheese, cream. These members are responsible people, married they have 12 children under their responsibility.… More from Divino Niño Sauce 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