Cristo Nos Ama Group
Update on Cristo Nos Ama GroupThe communal bank “Cristo nos Ama” is made up of twelve members, 11 women and 1 man. They are all parents with 20 children between them to care for. They come from Leon, which is in the western part of Nicaragua. They are hard-working, responsible people who want to move ahead in life. They fight daily for a better future for their children. In their spare time, they like to enjoy the company of their children and to spend time as a family. These are people who were unable to study for a career because of a lack of economic resources, but they strive to be able to offer better opportunities for their children.
The co-ordinator of the group is Dominga, thanks to her drive and her desire to get on in life. Her economic activity is a neighbourhood grocery store. This is a small shop that sells supplies such as bread, milk, sugar, beans, oil, detergent, soap, eggs, cream, fruit, ice-creams, "tiste" (a powdered drink made of cornmeal and cocoa powder) and matches. She works 12 hours a day at her business, selling her products. She needs a loan to invest in working capital to stock-up her business buying and selling groceries, so that in the near future she can earn a higher income. The "Crista nos Ama" communal bank thanks Kiva lenders for providing poor people, and poor countries such as Nicaragua, with the opportunity to have a decent job.
Gracia a su esfuerzo y sus ganas de salir adelante la coordinadora es Dominga y tiene por actividad económica una pulpería, es una pequeña tienda que vende productos comestibles como: pan, leche, azúcar, frijoles, aceite, detergente, jabón, huevos, crema, frutas, hielos, tiste, fósforos. Ella dedica a su negocio unas 12 horas diarias ofreciendo su producto. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio en la compra y venta de productos comestibles, para que en un futuro no muy lejano p pueda obtener mejores ingresos. El banco comunal Cristo no Ama agradece la ayuda que los inversionistas kiva les brinda a personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsThe "Cristo nos Ama" communal bank has ten members - nine women and one man, all responsible parents with a total of twenty children in their charge. These people are originally from Malpaisillo, in the north of the country. They are hard-working, responsible and have a desire to move ahead in l... More from Cristo Nos Ama 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
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