El Señor Es Mi Rey Group
Update on El Señor Es Mi Rey GroupEl Señor es mi Rey (The Lord is my King) communal bank is made up of thirteen members, ten women and three men, all responsible parents who want to have personal success. They are from the north of the country. They are characterized by their hard work, responsibility and desire for personal success. In their spare time they like to spend time in their children's company. Sadly, a lack of financial resources means they couldn't pursue a career and were forced to start working from an early age. Currently they fight every day to provide a better future for them.
Thanks to her efforts and desire to get ahead, the coordinator of the group who is from Candelaria owns a grocery store - a small stall from which she sells edible products in small quantities like rice, beans, sugar, milk, bread, detergent, maize, matches, olive oil, juices, sodas, greens and eggs. She works 12 hours a day and her business is located at her home. The objective of this loan is to be working capital for her business buying and selling edible products so that in the not too distant future she can improve her income.
The El Señor es mi Rey communal bank thanks Kiva lenders for the help they provide to people without means and from poorer countries like Nicaragua so that they can have dignified jobs.
Gracias a su esfuerzo y sus ganas de salir adelante la coordinadora es candelaria y tiene por actividad una pulpería, es una pequeña tienda que vende productos comestibles en cantidades pequeñas como arroz, frijoles, azúcar, leche, pan, detergente, frijoles, maíz, fósforos, aceite, jugos, gaseosas, verduras, huevos. Ella dedica a su negocio unas 12 horas diarias, el negocio lo tiene ubicado en su casa de habitación. 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 pueda obtener mejores ingresos. La asociación comunal EL señor es mi Rey agradece la ayuda que los inversionistas kiva le brindan a personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsEl Señor es mi Rey communal bank is made up of 12 members, Damaris, Maryuris, Merali, Aura, Maria Jesús, Heydi, Melba, Milena, Vilma, Roger, Candelaria. They all do different economic activities and they all support each other. Melba is the coordinator of the group; she sells and raises pigs in her… More from El Señor Es Mi Rey 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