Grupo La Fe Group
Update on Grupo La Fe GroupThe communal bank "Grupo la Fe" is made up of 11 members. They are single mothers with 15 children in their care. They are natives of Malpaisillo, a place located in the northern part of the country. These women are known for being hardworking and responsible, and for having a desire for personal success. In their free time, they enjoy spending time with their small children, and preparing traditional dishes such as "Indio Viejo" (a corn-based stew). These women had to work from a young age due to a lack of financial resources. They struggle each day to provide their children with a better future, so that they can get an education and become good men and women. These women are working hard because they have a strong desire to get ahead.
Emilia is the coordinator of the group. She has a business selling snacks such as: caramels, cheese puffs, chips, popsicles, bon bons, gum drops, cookies, and chocolates. She sells her products on the street from a 20 kilogram (44 pound) basket that she carries on her head. She performs this work with pleasure, because this is how she supports her children. Her goal with this loan is to invest in working capital, stocking her basket with snacks so that she will be able to obtain more earnings in the near future.
The communal bank "Grupo la Fe" thanks the Kiva lenders for the help that they are giving to low-income people in poor countries like Nicaragua so that in the near future they can increase their incomes.
El banco comunal Grupo la Fe está conformado por once integrantes, madres soleteras con quince hijos bajo su responsabilidad. Son originarias de Malpaisillo lugar que está ubicado en la zona norte del país. Se caracterizan por ser trabajadoras, responsables, con ganas de superación personal. En sus ratos libres les gustas disfrutar de tiempo con sus pequeños hijos, les preparan platos típicos como “Indio Viejo” estas mujeres desde muy joven se vieron obligadas a trabajar, por falta de recursos económicos, por lo tanto luchan día a día para brindarles un futuro mejor a sus hijos. Que puedan estudiar y ser mujeres y hombres de bien.
Gracias a su esfuerzo y sus ganas de salir adelante la coordinadora del banco es Emilia y tiene por actividad económica la venta de golosinas como caramelos, meneítos, churritos, paletas, bombones, chicles, gomitas, galletas, chocolates. Actividad que la desempeña de forma ambulantes con una canasta sobres su cabeza de uno 20 kg. Actividad que la desempeña con mucho gusto ya que es el sustento de sus hijos. El objetivo del crédito es invertir en capital de trabajo y surtir su canasta de golosinas para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal Grupo la Fe agradece la ayuda que los inversionistas kiva les brindan a personas de escasos recursos y países pobre como es Nicaragua para que en un futuro no muy lejano pueda obtener mejores ingresos.
Previous Loan DetailsThe community bank Grupo La Fe [The Faith Group] is made up of nine members -- one man and eight women. They are from Malpaisillo, a place that is situated in the western part of the country. These people describe themselves as being hardworking, responsible, with good habits, and with a… More from Grupo La Fe 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