Las Almendras. Group
Update on Las Almendras. GroupThe communal association "Las Almendras" (The Almonds) consists of 9 members who are single mothers, responsible for 15 children among them. They are originally from the northern zone of the region. They are characterized by being hard-working and responsible, with the will for personal achievement. In their spare time, they like to enjoy the company of their families, and they prepare typical dishes such as "indio viejo" (a Nicaraguan corn stew) for them. Unfortunately, due to lack of economic resources, they were not able to go to school, since they were faced with the need to work from an early age.
Thanks to her effort and her will to advance, the coordinator of the association is Concepción. Her business is a little grocery store where she sells food and other items in small quantities, such as rice, beans, sugar, milk, bread, detergent, soap, tiste (a cocoa flavored beverage), vegetables, eggs, and cream. She works in her business some 12 hours a day, offering her products. The purpose of the loan is to invest in working capital and stock her business, so that in the not too distant future she can obtain better income.
Gracias a su esfuerzo y sus ganas de salir adelante la coordinadora del la asociación comunal es Concepción y tiene por actividad económica una pulpería es una pequeña tienda que vende productos comestibles y en cantidades pequeñas como arroz, frijoles, azúcar, leche, pan, detergente, jabón, tiste, verduras, huevos, crema. 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 producto comestibles para que en un futuro no muy lejano pueda obtener mejores ingresos.
Previous Loan DetailsThe Communal Bank “Las Almendras” (The Almonds) has eight members. They are single mothers who are responsible for 15 children among them. These women are originally from El Sauce, a place that is located in the northern part of the country. They are known as hardworking and responsible… More from Las Almendras. 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