Cristo Nos Ama Group
Update on Cristo Nos Ama GroupThe "Cristo nos Ama" communal bank has ten members - nine women and one man, all responsible parents with a total of twenty children in their charge. These people are originally from Malpaisillo, in the north of the country. They are hard-working, responsible and have a desire to move ahead in life. They want to provide their young children with better lives as, because of financial problems, the members of the communal bank had to work from an early age.
The communal bank's coördinator is Ramona Mercedes, who has a grocery store that she runs out of her home. The grocery store sells soft goods in small quantities. Ramona sells rice, beans, sugar, bread, milk, detergent, soap and more. She works for around twelve hours each day. She needs a loan to invest in working capital and to stock-up her business buying and selling soft goods in order that, in the near future, she can earn a higher income. The "Crista nos Ama" communal bank thanks Kiva lenders for providing poor people, such as those in Nicaragua, with the opportunity of having a decent job.
La coordinadora del banco comunal es Ramona Mercedes y tiene por actividad económica una pulpería ubicada en su casa de habitación. Una pulpería es una pequeña tienda que vende productos comestibles y en cantidades pequeñas como arroz, frijoles, azúcar, pan, leche, detergente, jabón. Ella dedica a su negocio unas 12 horas diarias, el crédito lo necesita para invertir en capital de trabajo y surtir su negocio en la compra y venta de productos comestibles, para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal Cristo Nos Ama agradece la ayuda que los inversionistas kiva les brindan a personas de escasos recursos como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsCristo nos Ama (Christ loves us) is a communal bank made up of 10 members from the ages of 25 to 60, married with 15 children under their care. These members are natives of Leon, a place that is known for being a tourist area, with honest and friendly people, wanting to excel. Everyone has… More from Cristo Nos Ama 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