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Mi Dios Es Mi Fortaleza Group
In this Group: Claudia Esther, Basilisa, Matilde Del Socorro, Thelma, Neuda Lucia , Ventura Del Socorro, Juana Patricia , Silvia De Los Angeles , Octasis Filomena, Alberto Javier

Update on Mi Dios Es Mi Fortaleza Group

The communal bank Mi Dios es Mi Fortaleza [My God is My Strength] comprises 10 members: nine women and one man. They are all responsible parents who, between them, have 20 children in their care. They are from Malpaisillo, in the north of the region. The members of the group are characterised by responsible and hardworking outlook, and their desire to do well personally. Unfortunately they have few resources, which has meant they have all had to work from a young age.

The coordinator of the communal bank is Matilde. Her economic activity is the sale of curds on a mobile basis and from her home. Her objective for getting the loan is to invest it in working capital and to stock her business, which involves buying and selling curds, in order to supply her customers.

As part of her work routine, Matilde works 8 hours a day, with a basket on her head, selling her curds. The communal bank Mi Dios es mi Fortaleza is grateful to the Kiva investors for the assistance they give to people with scarce resources and in poor counties like Nicaragua so that they may have a means to obtaining a decent job.
View original language description ↓
El banco comunal Mi Dios es Mi Fortaleza está conformado por 10 integrantes, nueve mujeres y un hombre, padres y madres responsables con 20 hijos bajo su responsabilidad. Ellos son originarios del Malpaisillo lugar que está ubicado en la zona norte de la región. Estas personas se caracterizan por ser responsables, trabajadoras, con ganas de superación personal. Lamentablemente son personas de escasos recursos la cual se vieron obligadas a trabajar desde temprana edad.
La coordinadora del banco comunal es Matilde y tiene por actividad económica la venta de cuajada, de forma ambulante y en su casa de habitación. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio en la compra y venta de cuajada para ofrecer a sus clientes. La rutina de trabajo de Matilde es de unas 8 horas diaria, con una pana sobre su cabeza ofreciendo su cuajada. El banco comunal Mi Dios es mi Fortaleza 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 Details

Mi Dios Es Mi Fortaleza Communal Bank is made up of 11 members, very hardworking people who strive to improve themselves personally. These members are heads of family with children in their care. They're from the town of Malpaisillo, known as a productive agricultural region. Matilde del Soc... More from Mi Dios Es Mi Fortaleza 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

  • $4,800
    Average annual income
  • 112
    View loans »
    Nicaragua Loans Fundraising
  • $24,832,275
    Funds lent in using Kiva
  • 25.0
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of Mi Dios Es Mi Fortaleza Group's $4,450 loan helped a member to invest in working capital for the buying and selling of curds for resale.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 16, 2013
Listed
May 4, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013