Mujeres Responsables Group
Update on Mujeres Responsables GroupThe communal bank Mujeres Responsables is made up of 9 members who are all single mothers with a total of 15 children under their care. These women are known for being hard working, responsible, and with the desire to be successful. Unfortunately, they could not study because they lacked the economic resources to do so, and they found themselves obligated to work from an early age. They seek to offer a brighter future to their children.
The coordinator of the communal bank is Erika Patricia who sells handmade crafts like clay homes, decorative vases, flower vases, dolls, and clay jars. She runs this business for eight hours a day. The objective of the credit is to be able to invest in her work and stock her business so she can continue to purchase and sell handmade goods so that in the future she will be able to earn more income. The communal bank she is a member of is thankful for the help of the lenders at Kiva who loan money to those with little resources and in poor countries like Nicaragua so that people like these women can have dignified work.
La coordinadora del banco comunal es Erika Patricia y tiene por actividad económica la venta de artesanía como casa de barros, jarrones, floreros, muñecas, tinajas, ella dedica a su actividad unas 8 horas diarias ofreciendo su mercadería. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio en la compra y venta de artesanía para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal Mujeres responsables agradece la ayuda que los inversionistas kiva les brinda a personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsThe Responsible Women communal bank is made up of 8 members of whom 7 are women, one is a man. These entrepreneurs are very humble, hardworking and responsible people with good manners and lots of enthusiasm to improve their lives. All of them have businesses making handicrafts made from clay sin... More from Mujeres Responsables 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