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Buen Progreso Group
In this Group: Blanca, Olga De La Cruz, Miriam Del Carmen

Update on Buen Progreso Group

Blanca, a member of the trio pictured above, is 38 years old and is a single mother of five children. For the past 9 years, she has worked selling fresh produce in the market in Masaya, and she has three people who help her with the logistics of getting her produce to market.

With the support from this loan, Blanca plans to purchase tamarind fruit for resale at her business. She has been a member of the community bank for three years. Olga, another group member who is 60 years old, works as a pig butcher. Miriam, 53 years old, is the final member of the trio and makes a living selling cosmetics.
View original language description ↓
Blanca es una de las tres socias del grupo tiene 38 años de edad, soltera, con cinco hijos, su negocio es la compra y venta de cosechas en el mercado de Masaya desde hace 9 años, tiene a tres personas que le ayudan a en el proceso de corte. Es cliente de la institución desde hace 3 años. El crédito lo solicita para la compra de cosechas de tamarindo. Olga tiene la edad de 60 años su negocio es el destace de cerdo en pie, Miriam tiene 53 años su negocio es la venta de cosméticos.

Previous Loan Details

The group is made up of three entrepreneurial women. One of them is Blanca, who is 38 years old and a single mother with three children aged 15, 13 and 11. For the last 5 years she has had a business buying and selling seasonal fruits. She sells the fruit at the market and has been a customer of ... More from Buen Progreso Group's previous loan »

Additional Information

About ADIM

Located in Central America, ADIM is a small microfinance institution with a strong social focus. In the saturated microfinance market of Nicaragua, ADIM stands out for its emphasis on the holistic development of women as well as its provision of responsible financial services. Founded in 1989 by a small group of Nicaraguan women, this institution has remained true to its initial goal of providing its clients (90% of which are women) with an opportunity for economic growth, in addition to personal and professional empowerment. Supporting an ADIM borrower means contributing not only to the continued offering of the socially conscious services it provides, but also to the sustainable growth of a truly unique microfinance institution.

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.

Tags

About Nicaragua

  • $3,636
    Average annual income
  • 116
    View loans »
    Nicaragua Loans Fundraising
  • $23,803,650
    Funds lent in using Kiva
  • 25.7
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of Buen Progreso Group's $950 loan helped a member to purchase tamarind fruit for her business.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 25, 2013
Listed
Dec 20, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014