Nuevo Amanecer Group
Update on Nuevo Amanecer GroupThe Nuevo Amanecer communal association is made up of nine members; eight ladies and one gentleman; mothers and fathers with 15 children under their care. They are from the northern part of the country, known for being an area where milk, cheese, and milk curd is produced. Its people are very hardworking, responsible, with a desire for personal success. They were not able to attend school due to lack of resources, but this has not prevented them from overcoming the adverse obstacles and situations that have presented themselves in their life’s struggles.
Thanks to her efforts and desire to get ahead, Reyna, the coordinator, has a food store where she sells rice, beans, juices, and soft drinks. She works 12 hours a day and will use the money from this loan to stock her store with food items so that she will have better income in the near future. The Nuevo Amanecer communal association is grateful to the Kiva lenders who provide people of limited resources from poor countries such as Nicaragua, the opportunity to have dignified work.
Gracia a sus esfuerzo y sus ganas de salir adelante la coordinadora es Reyna y tiene por actividad económica una pulpería es una pequeña tienda que vende productos comestibles en cantidades pequeñas como arroz, frijoles, jugos, gaseosas. Ella dedica a su negocio unas 12 horas diarias ofreciendo sus productos. 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 Nuevo Amanecer agradece la ayuda que los inversionistas kiva ofrecen a personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsThe Nuevo Amanecer ("New Dawn") communal bank is made up of eight members. They are single mothers who have a total of twenty children under their care. They are from Sauce, which is located in the northern part of the country. They are characterized as hardworking, responsible people who have a ... More from Nuevo Amanecer 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