Los Angeles Group
Update on Los Angeles GroupThe Los Angeles communal bank is made up of eleven members: ten women and one man. It originates in Malpaisillo, which is located in the west of the country. The members are all hard-working and responsible and strive for self-improvement. Unfortunately, because of lack of economic resources, they have not been able to finish their basic education and they have been working from an early age in order to help with their household expenses.
Due to her hard work and her will to get ahead, Aleida is the coordinator of the Los Angeles communal bank. For her occupation, she sells a variety of new clothing, such as pants, blouses, skirts, shorts, dresses, sleepwear, pyjamas, towels and undergarments. Her business is located in the house where she lives. She spends about 10 hours a day working and really enjoys her business. The objective of the loan is to invest in working capital and to stock her business buying and selling merchandise, so that she can obtain a better income in the near future.
The Los Angeles community bank is grateful for the aid that Kiva's investors provide to people with few resources in poor countries like Nicaragua in order for them to have a means of respectable work.
Gracias a su esfuerzo y sus ganas de salir adelante Aleida es la coordinadora del banco comunal Los Ángeles tiene por actividad económica la venta de ropa nueva variada como pantalones, blusas, faldas, short, vestidos, ropa de cama, pillamas, toallas, ropa interior. El negocio lo tiene ubicado en su casa de habitación. Ella dedica a su actividad unas 10 horas diarias, actividad que la desempeña con mucho gusto. 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 Los Ángeles 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 Los Ángeles communal bank is formed by 10 members, 9 women and one man, mothers and fathers responsible for 20 children. They are from Malpaisillo, a place that is located in the western area of the country. Malpaisillo is known for artisanal work and typical beverages like tiste or pinolillo... More from Los Angeles 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