Banco Comunal Corazon De Jesus Group
Update on Banco Comunal Corazon De Jesus GroupThe “Corazón de Jesús” (Heart of Jesus) communal bank has 8 members; six women and two men. They are responsible mothers and fathers with 15 children they are responsible for. They are from El Sauce, a place located in the northern part of the country. They are noted for being responsible and hardworking and with the drive for personal improvement. They strive daily to provide a better future.
Thanks to her effort and desire to get ahead, Melida del Socorro’s economic activity is a ‘pulpería,’ which is a small store that sells food items like beans, sugar, oil, soap, juice, soft-drinks, herbal tea, detergent, matches and consommé in small amounts. She spends about 12 hours daily selling her products, an activity she does happily.
The objective of the loan is to invest in working capital and stock the store purchasing items to sell so that in the not too distant future she will be able to earn higher income. The Corazón de Jesús communal bank is grateful for the support Kiva lenders provide for people of scarce resources and for poor countries like Nicaragua so that ways of earning a living with dignity are possible.
Gracias a su esfuerzo y sus ganas de salir adelante Melida del Socorro tiene por actividad económica una pulpería que es una pequeña tienda que vende productos comestibles y en cantidades pequeñas como frijoles, azúcar, aceite, jabón, jugos, gaseosas, tiste, detergente, fosforo, consomé. Ella dedica a su negocio unas 12 horas diarias ofreciendo sus productos. 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 productos comestibles, para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal Corazón de Jesús, agradece la ayuda que los inversionistas kiva les brindan a personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsThe communal bank “Corazón de Jesús” (Heart of Jesus) is composed of nine members: one man and eight women, all parents with 20 children under their responsibility. They come from Sauce, a place that is located in the northern part of the country. These members are characterized as being hard-w... More from Banco Comunal Corazon De Jesus 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