Nueva Esperanza Group
Update on Nueva Esperanza GroupNueva Esperanza Communal Bank is made up of 10 members, single adult women with 25 dependent children among them. They're from El Sauce, located in the northern part of the country. They're hardworking and responsible people with a desire for personal self-improvement but who had to work from a young age because they lacked financial resources. They strive every day to give their children a better future.
Meyling is the coordinator of Nueva Esperanza Communal Bank. Her job is a "pulpería" located in her home. A pulpería is a small store that sells food in small quantities, such as small packets of coffee or shampoo, sugar, rice, oil, bread, milk, beans, detergent, soap, juices, and curd.
The goal of the loan is to invest in food products for her store so she can get better income in the near future.
Nueva Esperanza Communal Bank is grateful for the help that Kiva investors give to low-income people and poor countries like Nicaragua so they have the means for a decent job.
Meyling es la coordinadora del banco comunal Nueva Esperanza, y tiene por actividad económica una pulpería ubicada en su casa de habitación. una pulpería es un pequeña tienda que vende productos comestible en cantidades pequeñas como sobre de café, sobre de shampoo, azúcar, arroz, aceite, pan, leche, frijoles, detergente, jabón jugos, cuajada. El objetivo del credito es invertir en productos comestible para su pulpería, para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal Nueva Esperanza 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 Nueva Esperanza Communal Bank is made up of 10 members, all single mothers with 20 dependent children among them. This bank is from León, a place located in the western part of the country. It is known as a tourist and university town, with one of the best universities in the country. Its pe... More from Nueva Esperanza 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
- 8 months (Additional Information)
- Repayment Schedule
- Apr 11, 2013
- May 6, 2013
- Currency Exchange Loss:
- Nov 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.