Cristo Nos Guia Group
Update on Cristo Nos Guia GroupCristo Nos Guía Communal Bank is made up of 10 members, single mothers with 15 children in their care. These women are known for being hardworking and responsible with a desire for personal improvement. They're from El Sauce, located in the northern part of the country. In their free time they enjoy being with their families and like to make traditional regional dishes such as "nacatamales" [Nicaraguan-style tamales]. Unfortunately, because of a lack of financial resources, they had to work from a young age and weren't able to pursue an education. They strive every day, however, to give their children a better future.
The coordinator of the communal bank is Martha, whose job is a "pulpería" located in her home. A pulpería is a small store that sells food products in small quantities: rice, beans, sugar, bread, milk, juice, detergent, soda, "tiste" [a corn and cocoa drink], eggs, and matches.
The goal of the loan is to invest in working capital and stock her business buying and selling products. She works in her business some 12 hours a day, selling her products with great enthusiasm.
Cristo Nos Guía Communal Bank is grateful for the help that Kiva lenders give to low-income people and poor countries such as Nicaragua so they have the means to a decent job.
La coordinadora del banco comunal es Martha y tiene por actividad económica una pulpería ubicada en su casa de habitación. Una pulpería es una pequeña tienda que vende productos comestibles como arroz, frijoles, azúcar, pan, leche, jugos, detergentes, gaseosas, tiste, huevos fósforos, en cantidades pequeñas. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio en la compra y venta de productos.Ella dedica a su negocio unas 12 horas diarias ofreciendo sus productos actividad que la desempeña con mucho gusto. El banco comunal Cristo Nos guía 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 communal bank Cristo Nos Guia (Christ Guides Us) consists of 11 members, all single mothers with 18 children under their responsibility. These women are characterized by being hard-working and responsible with the personal will to overcome. They have had to work since they were very young,… More from Cristo Nos Guia 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