El Triunfo Group
Update on El Triunfo GroupThe El Triunfo village bank has eight members: seven women and one man. All of them are parents with children in their care. They are from Sauce, in the north of the country. They are hardworking and responsible people who strive to better themselves. Unfortunately, their lack of financial resources prevented them from studying, and they have had to work from a young age. Thanks to their spirit and their desire to live a better life, the bank's leader is Graciela, who sells bread door to door carrying a twenty-kilogram basket on her head. This loan will supply baked goods for her to sell, including cakes, pastries, rolls, and other treats. El Triunfo is grateful for the help that Kiva's lenders offer people with few resources and poor countries like Nicaragua so they can have a dignified way of earning a living.
Gracias a su espíritu y sus ganas de salir adelante la coordinadora del banco es Graciela y tiene por actividad económica la venta de pan, de forma ambulante, con un canasto sobre su cabeza de unos 20 kg. El objetivo del crédito es surtir de pan para la venta como cachos, semitas, tortas, pasteles, dedos, enrollados, picos. El banco comunal EL Triunfo 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 communal bank "El Triunfo" [The Triumph] is made up of eight members. All of the members are adults, married, and together they have fifteen children they are responsible for. They are fighting, hard-working individuals with the desire to offer the best opportunities for their children so t... More from El Triunfo 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