Luz De Campo Group
Update on Luz De Campo GroupThe “Luz de Campo” (Light of the Countryside) communal bank consists of 12 members, 11 women and one man. They are single mothers and father with 20 children in their care. They are from León, a place located in the western part of the country. They are noted for being hardworking, responsible people who want to improve personally. In their free time they enjoy spending time with their families in recreational activities that are within their possibilities. Sadly, they were unable to study careers and were obliged to start working at a very young age to help with household expenses.
Thanks to her effort and drive to get ahead, Nubia is the communal bank coordinator and her economic activity is selling crafts that are typical of the region like clay vases, jugs, clay houses, masks, dolls, kitchen decorations, suns, stars, clay baskets and giant clay figures. She carries out this activity from place to place and at home. Her objective is to invest in working capital and stock up her crafts buying and selling business so that in the not too distant future her income will improve.
The Luz de Campo communal bank is grateful for the help Kiva lenders provide people of scarce resources and to poor countries like Nicaragua so that they can have an honorable way to earn a living.
El banco comunal Luz de Campo está conformado por doce integrantes, once mujeres y un hombre, madres y padre soltero con veinte hijos bajo su responsabilidad. Ellos son originarios de León, lugar que está ubicado en la zona de occidente del país. Se caracterizan por ser personas trabajadoras, responsables con ganas de superación personal. En sus ratos libre le gusta disfrutar en familia en actividades recreativas dentro de sus posibilidades. Lamentablemente no pudieron estudiar una carrera, y se vieron obligadas a trabajar desde temprana edad para ayudar con los gastos del hogar.
Gracias a su esfuerzo y sus ganas de salir adelante, Nubia es la coordinadora del banco comunal y tiene por actividad económica la venta de artesanías propias de la región como. Floreros de barro, jarrones, casa de barro, mascaras, muñecas, casa de barro, adornos de cocinas, sol, estrellas, canastas de barros gigantonas de barros. Actividad que la desempeña de forma ambulante y en su casa de habitación. El objetivo 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 Luz de Campo agradece la ayuda que los inversionistas kiva les brindan a personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsThe Luz de Campo group consists of 10 members: nine women and a man. They are parents who are responsible for 20 children. They are natives of Malpaisillo, which is located in the western part of the country and is known for its handicrafts and its farming. These people have demonstrated responsi... More from Luz De Campo 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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