Update on Evenecer GroupThe communal bank "Evanecer" is made up of eight members: they are single mothers who want to better themselves. They are from El Sauce, in the northwestern part of the country. The members like to spend their free time with their families, and prepare typical meals, such as "Carne de Baho" (a meat and yucca dish), for them. Sadly, none of the members were able to pursue higher education and have had to work from a young age.
Thanks to her hard work and desire to get ahead, Luz Marina is the coordinator of the communal bank, and earns her living from a "pulpería" located in her house. A "pulpería" is a small shop that sells edible products in small amounts, such as rice, beans, sugar, milk, bread, eggs, as well as detergent and soap. For 12 years, she has been earning her living by selling these products.
The loan will be used to invest in working capital and stock up on supplies so that Luz Marina can increase her sales in the near future. The communal bank "Evanecer" is grateful for the help that Kiva investors provide to people with limited resources in poor countries such as Nicaragua, allowing them a decent means of earning a living.
Gracia a su esfuerzo y sus ganas de salir adelante Luz Marina es la coordinadora del banco 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, huevos, detergente, jabón. El negocio lo tiene ubicado en su casa de habitación. Ella dedica a su negocio unas 12 horas diarias ofreciendo sus productos. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal Evanecer 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 "Evenecer" is made up of 9 members; they are single mothers who are responsible for a total of 25 children. They are natives of El Sauce, a place that is located in the northern part of the country. These women are known for their hard work, responsibility, and desire to excel... More from Evenecer 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.
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Success!! The loan was 100% repaid