Nueva Esperanza Group
Update on Nueva Esperanza GroupNueva Esperanza Communal Bank is made up of nine members, eight women and one man. They're responsible parents from León, located in the western part of the country. They describe themselves as being hardworking and responsible with a desire for personal self-improvement. They enjoy spending their free time with their children. Unfortunately they were unable to go to school because they lacked the financial resources and had to work from a young age to help with the household expenses.
Thanks to her effort and desire to get ahead, Ely's the coordinator of the communal bank. Her job is selling new clothing: pants, dresses, skirts, shorts, blouses, underwear, children's clothing, t-shirts, and sports shirts. She works as a street vendor and carries some 30 kilograms of merchandise to steady and occasional customers.
Ely's going to invest in working capital by buying and selling new clothing so she can earn a better income in the near future.
Nueva Esperanza Communal Bank is grateful for the help that Kiva lenders give to low-income people and poor countries like Nicaragua so they have the means to a decent job.
El banco comunal Nueva Esperanza, está conformado por nueve integrantes ocho mujeres y un hombre. Madres y padres responsables, originarios de Leon, lugar que está ubicado en la zona de occidente del país. Se caracterizan por ser trabajadoras, responsables, con ganas de superación personal. En sus ratos libres le gusta disfrutar de tiempo de calidad con sus hijos. Lamentablemente no pudieron estudiar por falta de recursos económicos y se vieron obligadas a trabajar desde temprana edad para ayudar con los gastos del hogar.
Gracias a su esfuerzo y sus ganas de salir adelante la coordinadora del banco comunal es Ely y tiene por actividad económica la venta de ropa nueva como pantalones, vestidos, faldas, short, blusas, ropa interior, ropa de niños, camisetas, camisolas. Actividad que la desempeña de forma ambulante, con un peso de unos 20 kg donde lleva su mercadería a clientes fijos y eventuales. El objetivo del crédito es invertir en capital de trabajo en la compra y venta de ropa nueva, para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal Nueva Esperanza 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 DetailsNueva Esperanza Communal Bank is made up of 10 members, single adult women with 25 dependent children among them. They're from El Sauce, located in the northern part of the country. They're hardworking and responsible people with a desire for personal self-improvement but who had to work from a... More from Nueva Esperanza 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