Vamos En Victoria Group
Update on Vamos En Victoria GroupThe community bank, Vamos en Victoria, is made up of nine members, all single mothers responsible for their twenty children. They are from Sauce in the north part of the country. All are hardworking and responsible with a great desire to get ahead. They struggle on a daily basis to make a better future; sadly, because of a lack of financial resources, they couldn't attend school and had to start work at a young age.
The community bank coordinator is Melania who runs a 'pulpería' out of her house. A pulpería is a small store selling food products in small quantities such as coffee, rice, beans, oil, sugar, bread, milk, and eggs. She works about 12 hours a day in the store. Melania is seeking a loan to use as working capital to buy more food products as stock for the store.
The community bank is grateful for the assistance provided by Kiva donors to low-income people from poor countries such as Nicaragua and providing them with a better future.
La coordinadora del banco comunal es Melania 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 café, arroz, frijoles, aceite, azúcar, pan, leche, huevos. Ella dedica a su actividad 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 comestibles. El banco comunal agradece la ayuda que los inversionistas kiva les brindan a personas de escasos recursos y países pobre como es Nicaragua para brindarles un futuro mejor.
Previous Loan DetailsThe community bank, Vamos en Victoria, is comprised of eight members, all single mothers, with 10 children under their care. It was formed in Sauce, which is located in the northern part of the country. These women grouped together to take advantage of the benefits of the loan and invest in their... More from Vamos En Victoria 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
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Success!! The loan was 100% repaid