El Señor Es Mi Rey Group
Update on El Señor Es Mi Rey GroupThe Communal Bank “El Señor Es Mi Rey” (The Lord Is My King) consists of 13 members, 11 women and 2 men. They are originally from El Sauce, a place that is located in the northern part of the country. These individuals are known for being hardworking, responsible, and having the drive to succeed on a personal level. In their free time, they enjoy spending time with their children as a family. Unfortunately, due to a lack of financial resources, they were not able to attend school and were obligated to work at a young age.
The coordinator for this Communal Bank is Vilma. She manages a general store that is located in her home where she sells food products in small quantities such as rice, beans, sugar, milk, bread, cheese, eggs, juices, and sodas, as well as detergents. Vilma works at her business approximately 12 hours each day and enjoys it very much. Her loan will be invested as operating capital so that she can restock her business of buying and selling food products. In the not-so-distant future, she hopes to generate more income.
The Communal Bank is grateful for the assistance that the Kiva lenders have provided to low-income people from poor countries, such as Nicaragua, so that they can have a decent form of work.
El banco comunal el Señor es mi rey, está conformado por trece integrantes once mujeres y dos hombres. Son originarias del sauce, lugar que está ubicado en la zona norte del país. Son personas que se caracterizan por ser trabajadoras, responsables, con ganas de superación personal. En sus ratos libres le gusta disfrutar en familia de sus hijos. Lamentablemente por falta de recursos económicos no pudieron estudiar, y se vieron obligadas a trabajar desde temprana edad.
La coordinadora del banco comunal, es Vilma y tiene por actividad económica una pulpería ubicada en su casa de habitación. Una pulpería es una pequeña tienda que vende productos comestibles y en cantidades pequeñas como arroz, frijoles, azúcar, leche, pan, queso, huevos, jugos, gaseosas, detergentes. Ella dedica a su negocio una 12 horas diaria, actividad que la disfruta mucho. 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 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 DetailsEl Señor es mi Rey communal bank is made up of 12 members, Damaris, Maryuris, Merali, Aura, Maria Jesús, Heydi, Melba, Milena, Vilma, Roger, Candelaria. They all do different economic activities and they all support each other. Melba is the coordinator of the group; she sells and raises pigs in h... More from El Señor Es Mi Rey 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