G.s. Laurel Galan Group
Thanks to her spirit and desire to get ahead, Edith del Socorro is the coordinator of the group. She runs a small store located in her home. She works 12 hours a day, offering up her products. The goal of this loan is to invest in work capital and stock her store with food products to sell in small quantities, like rice, beans, sugar, oil, detergent, juices, sodas, cookies, bread, milk, and eggs. This will give her more income in the near future.
The group Laurel Galan is thankful for the help the Kiva lenders give to people with few resources in poor countries like Nicaragua, so that they can have dignified work.
Gracia a su espíritu y sus ganas de salir adelante Edith del Socorro es la coordinadora del grupo y tiene por actividad económica una pulpería ubicada en su casa de habitación. Ella dedica a su negocio 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 productos comestible y en cantidades pequeñas como arroz, frijoles, azúcar, aceite detergente, jugos, gaseosas, galletas, pan, leche, huevos. Para que en un futuro no muy lejano pueda obtener mejores ingresos. El grupo solidario Laurel Galán 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.
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).
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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