Banco Comunal Amor De Mujeres Group
Update on Banco Comunal Amor De Mujeres GroupThe Amor de Mujeres communal bank is made up of 15 members, responsible single mothers with a total of 35 children under their care. They are from El Sauce, a place located in the northern part of the country. El Sauce is a place characterized by milk production and cheese curds. They are hardworking, responsible people who are eager to get ahead. These women fight day to day to get their little children ahead and offer them a better future, since they themselves couldn't go to school due to a lack of resources and had to start working at a young age.
Jeylin Josefa is the coordinator of the communal bank and her economic activity is selling various items of new clothing such as pants, shirts, dresses, socks, camisoles, t-shirts, underwear, sheets and towels. The purpose of the loan is to invest in working capital and stock her business buying and selling new clothing so that in future she can make more income. She works at her business for about 10 hours a day, offering her merchandise as a street vendor with a 20 kg pack. The Amor de Mujeres communal bank is grateful for the help from the Kiva investors offer people of low income in poor countries such as Nicaragua so that they can have dignified work.
eylin Josefa es la coordinadora del banco comunal y tiene por actividad económica la venta de ropa nueva variada como pantalones, camisas, faldas, short, vestidos, calcetas, camisolas, camisetas, ropa interior, sabanas toallas. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio en la compra y venta de ropa variada, para que en un futuro no muy lejano pueda obtener mejores ingresos. Ella dedica a su negocio unas 10 horas diarias ofreciendo su mercadería, de forma ambulante con un bulto de unos 20 kg. El banco comunal Amor de Mujeres 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 "Amor de Mujeres" is composed of sixteen members, all married. In total, the members have 20 children. They are hardworking, responsible and humble women, with a strong will to thrive and get ahead in life with their children. They come from the Sauce region, located in the nort... More from Banco Comunal Amor De Mujeres 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
- Repayment Term
- 9 months (Additional Information)
- Repayment Schedule
- Jun 11, 2013
- Jul 18, 2013
- Currency Exchange Loss:
- Jan 19, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.