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Ilucion Group
In this Group: Maria De La Concepcion, Jessica Raquel, Karla Patricia, Concepcion, Fatima Lorena , Maria De Los Angeles

Update on Ilucion Group

This group is comprised of six women entrepreneurs. María is one of them: she is 49 years old, single, and has an 18-year old daughter. She has been selling clothing, both used and new, for the past five years. She has been a client of the field partner for seven. The loan will be used to buy mixed bags of clothes such as socks, brassieres, and bloomers, as well as used shoes. The other members of the group are: María de los Ángeles (40), who sells new and used clothing, and new shoes, Fátima (38), a stylist who also sells new clothes, Karla (28), who sells nacatamales, cheese, and coffee, Jessica (37), who sells used clothing, cosmetics, and shoes, and Concepción (49), who makes bags and linens.
View original language description ↓
Este grupo lo integran seis mujeres emprendedoras una de ellas es María mujer de 49 años de edad, soltera, con una hija de 18 años, su negocio es la venta de ropa nueva y usada desde hace 5 años. Tiene de ser cliente de la institución desde hace 7 años, el crédito lo solicita para la compra de pacas de ropa mixta y ropa nueva como calcetas, brasieres, blúmeres, zapatos usados. María de los Ángeles mujer de 40 años de edad se dedica al negocio de venta de ropa nueva, usada, y calzado nuevo, Fátima mujer de 38 años de edad, su negocio es estilista y venta de ropa nueva, Karla mujer de 28 años su negocio es la venta de nacatamales, queso y café, Jessica mujer de 37 años se dedica al negocio de vender ropa usada, cosméticos y calzado y Concepción mujer de 49 años y su negocio es elaborar bolsos y ropa de cama.

Previous Loan Details

This group has six successful members. One of them is Jesica, 33. She’s in a free union and has four minor children. She’s been selling used clothes and Avon cosmetics for five years. She started out selling perfume and gradually used profits to diversify her products. She will use the loan… More from Ilucion Group's previous loan »

Additional Information

About ADIM

Located in Central America, ADIM is a small microfinance institution with a strong social focus. In the saturated microfinance market of Nicaragua, ADIM stands out for its emphasis on the holistic development of women as well as its provision of responsible financial services. Founded in 1989 by a small group of Nicaraguan women, this institution has remained true to its initial goal of providing its clients (90% of which are women) with an opportunity for economic growth, in addition to personal and professional empowerment. Supporting an ADIM borrower means contributing not only to the continued offering of the socially conscious services it provides, but also to the sustainable growth of a truly unique microfinance institution.

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.

About Nicaragua

  • $3,636
    Average annual income
  • 162
    View loans »
    Nicaragua Loans Fundraising
  • $23,186,525
    Funds lent in using Kiva
  • 25.3
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of Ilucion Group's $1,775 loan helped a member to buy clothes to sell, both used and new.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 31, 2013
Listed
Sep 27, 2013
Currency Exchange Loss:
Covered
Ended:
Jan 18, 2014