Nuevo Amanecer Group
Update on Nuevo Amanecer GroupThe Nuevo Amanecer ("New Dawn") communal bank is made up of eight members. They are single mothers who have a total of twenty children under their care. They are from Sauce, which is located in the northern part of the country. They are characterized as hardworking, responsible people who have a desire to improve. Unfortunately, they lack financial resources and they fight every day to give their clients a better future.
The coordinator of the Nuevo Amanecer communal bank is Rosario del Carmen, who has a "pulpería" located in her home. A pulpería is a small store which sells food products in small quantities, such as coffee packets, shampoo packets, rice, beans, sugar, milk, bread, eggs, and juice. Her business is located in her house and she offers her products for about 12 hours per day. She will use this loan to invest in working capital and to stock her business by purchasing merchandise, so that she can have a better income in the not-so-distant future.
The Nuevo Amanecer communal bank is grateful for the help which Kiva lenders offer to people with limited resources in poor countries such as Nicaragua, so that they can have a decent livelihood.
La coordinadora del banco comunal Nuevo Amanecer es Rosario del Carmen es la coordinadora del banco y tiene por actividad económica la una pulpería ubicada en su casa de habitación una pulpería es una pequeña tienda que vende productos comestibles y en cantidades pequeñas como sobre de café, sobre de shampoo, arroz, frijoles, azúcar, leche, pan, huevos, jugos, el negocio lo tiene ubicado en su casa de habitación y dedica unas 12 horas diarias ofreciendo sus productos. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio en la compra y venta de mercadería para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal Nuevo Amanecer 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 DetailsNuevo Amanecer (New Dawn) communal bank is made up of 10 members. They are all married and between them have 15 children under their care. These members are from the Sauce department; a place which is situated in the northern part of the country. Sauce is known for being an area that produces dairy… More from Nuevo Amanecer 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