Nuestros Lirios De Los Valles Group
Update on Nuestros Lirios De Los Valles GroupThe communal bank Nuestros Lirios de los Valles is made up of 12 members, single mothers responsible for 27 children under their care.
They are originally from Sauce, a place that is located in the north of the country. It is known for its hardworking, responsible women, with hopes of succeeding. Unfortunately they could not study because of lack of financial resources and they were forced to work from an early age.
Thanks to her effort and her desire to get ahead Carina is the coordinator of the communal bank and she has as her economic activity a pulpería. A pulpería is a small store that sells groceries in small amounts such as coffee, rice, sugar, milk, bread, beans, detergent, soap, juice, and soda. She devotes about 12 hours daily to her business selling her products. The purpose of the loan is to invest in working capital and supply her business for buying and selling groceries so that in the near future she can increase her profits.
The communal bank Nuestros Lirios de los Valles is grateful for the help that Kiva lenders offer to people with limited means, in poor countries such as Nicaragua, to have decent sources of work.
Gracias a su esfuerzo y sus ganas de salir adelante Corina es la coordinadora del banco y tiene por actividad económica una pulpería, una pulpería es una pequeña tienda que vende productos comestibles y en cantidades pequeñas como sobre de café, arroz, azúcar, leche, pan, frijoles, azúcar, detergente, jabón, jugos, gaseosas. 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 comestibles como, para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal Nuestros lirios de los valles 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 “Nuestros Lirios de los Valles” communal bank is made up of 11 members; hardworking responsible women with good traditions, and with a desire to succeed personally. These women are all from Sauce, in the north part of the country, and have 15 children to care for. The ladies are known for be... More from Nuestros Lirios De Los Valles 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