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El Futuro Group
In this Group: Celia , Marta Elena , Martha Salvadora, Ruth Del Socorro

Update on El Futuro Group

This group consists of four enterprising women. Marta Elena, 53, is married with two children aged 18 and 15. She used to just work selling Avon cosmetics but now for the last 38 years her business has been a beauty salon and selling cosmetics house to house. She’s been a client of the institution for nine years and is asking for the loan to pay cash to buy assorted beauty products like hair dye, Keratina [hair-care product], special hair-care shampoo, acrylic fingernails, etc.

Ruth, 36, sells soup, nacatamales [Nicaraguan-style tamales] and has a home-based grocery store; Celia, 53, butchers pigs and Martha Salvadora, 46, sells soup, fried fast-food and tortillas.
View original language description ↓
Grupo formado por cuatro mujeres emprendedoras una de ellas es Marta Elena tiene 53 años de edad, casada, con dos hijos de 18 y 15 años,Antes solo se dedicaba a la venta de cosmeticos de avon ahora su negocio es una estética de belleza y venta de cosméticos a domicilio desde hace 38 años. Tiene de ser cliente de la institución 9 años, el crédito lo solicita para la compra de cosméticos variados al contado y productos como tintes, keratina, shampoo especializado para el cuidado del cabello, uñas acrílicas. Ruth mujer de 36 años de edad su negocio es la venta de sopa, nacatamales y una pulpería ubicada en su domicilio, Celia mujer de 53 años de edad su negocio es el destace de cerdo en pie y Martha Salvadora tiene 46 años su negocio es la venta de sopa, fritanga y tortillas.

Previous Loan Details

There are four members, and they are all from Masaya. Marta Elena is one of them. She has been selling Avon cosmetics to neighbors close to her community for three years. She will use the loan to buy Avon cosmetics like perfume for men and women, lotion, hand cream, body cream, hair cream, a... More from El Futuro 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.

Tags

About Nicaragua

  • $3,636
    Average annual income
  • 120
    View loans »
    Nicaragua Loans Fundraising
  • $24,043,075
    Funds lent in using Kiva
  • 25.5
    Nicaragua Cordobas (NIO) = $1 USD
Expired
A portion of El Futuro Group's $2,375 loan helped a member to buy beauty supplies.
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 23, 2013
Listed
Sep 27, 2013
Currency Exchange Loss:
Covered
Expired:
Oct 27, 2013