Mi Dios Es Mi Fortaleza Group
Update on Mi Dios Es Mi Fortaleza GroupThe community bank Mi Dios es Mi Fortaleza [My God is My Strength] comprises ten members: nine women and one man. They are mothers and fathers who are responsible for a total of fifteen children. They hail from Malpaisillo, a place that is situated in the western part of the country. They are known for being hardworking, responsible, and with personal desires to get ahead. Unfortunately, they were not able to study due to a lack of economic resources, and they felt obligated to work from a young age in order to help with household expenses.
Thanks to her effort and her desire to get ahead, the coordinator is Basilisa. She makes her living making and selling clay handicrafts, clay houses, flower vases, kitchen decorations, clay spoons, pitchers, flower pots and piggy banks. She works some eight hours a day. She works out of her house, from door-to-door, and by orders.
The goal of the loan is to invest it in working capital to buy material to make handicrafts, like mud, clay, paint, brushes and molds, so that in a not-so-distant future, she can get better earnings.
The community bank Mi Dios es Mi Fortaleza is grateful for the help that Kiva investors provide to people of scarce resources and poor countries such as Nicaragua so that they have a means of making a decent living.
Gracias a su esfuerzo y sus ganas de salir adelante la coordinadora es Basilisa y tiene por actividad económica la elaboración y venta de artesanía de barros, casa de barro, floreros, adornos de cocina, cucharas de barros, jarrones, maceteros, alconcillas. Ella dedica a su actividad unas ocho horas diarias, actividad que la desempeña en su casa de habitación y forma ambulante y por encargos. El objetivo del crédito es invertir en capital de trabajo en la compra de material para elaborar artesanía como barro, arcilla, pintura, pincel, molde. Para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal Mi Dios es Mi fortaleza, 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 communal bank Mi Dios es Mi Fortaleza [My God is My Strength] comprises 10 members: nine women and one man. They are all responsible parents who, between them, have 20 children in their care. They are from Malpaisillo, in the north of the region. The members of the group are characterised by… More from Mi Dios Es Mi Fortaleza 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
- Repayment Term
- 9 months (Additional Information)
- Repayment Schedule
- Sep 19, 2013
- Oct 8, 2013
- Currency Exchange Loss:
- Apr 16, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.