Las Marias Group
Update on Las Marias GroupLas Marías Communal Bank is made up of nine members, eight women and one man who are responsible mothers and fathers with fifteen children in their care. They enjoy spending their free time with their children. These people are from El Sauce, located in the northern part of the country, and are known as hardworking and responsible people who want to improve themselves. Unfortunately they were unable to go to school because they lacked the financial resources.
Julia's the coordinator of the group thanks to her effort. Her economic activity is a "pulpería" located in her home. A pulpería is a small store that sells food such as rice, beans, sugar, milk, bread, eggs, coffee, detergent, juice, and soda. She works about 10 hours a day at her job so she can earn better income in the near future.
Las Marías Communal Bank is grateful for the help that Kiva lenders give to low-income people and poor countries like Nicaragua so they have a means to a decent job.
Gracias a su esfuerzo julia es la coordinadora del banco comunal y tiene por actividad económica una pulpería, ubicada en su casa de habitación. Una pulpería es una pequeña tienda que vende productos comestibles como arroz, frijoles, azúcar, leche, pan, huevos, detergentes, jugos, gaseosas. Ella dedica a su actividad unas 10 horas diarias, para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal Las Marías 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 LAS MARÍAS is comprised of nine members, eight women and a man, who are responsible heads of family with a total of 15 children in their care. They are from Sauce which is located in the northern part of the country and known for its milk, cottage cheese and cheese. These are… More from Las Marias 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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- Repayment Term
- 11 months (Additional Information)
- Repayment Schedule
- Sep 25, 2013
- Oct 8, 2013
- Currency Exchange Loss:
- Nov 7, 2013
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.