Estrella Del Apante Group
Update on Estrella Del Apante GroupThe community bank Estrella del Apante, is made up of nine members: eight women and one man, mothers and fathers who have a total of 15 children under their care. They are natives of Telica, a place that is located in the western part of the country. They are known for being hardworking and responsible, with a desire to succeed. Unfortunately, due to a lack of financial resources, they were not able to study a profession and felt obligated to work from a young age in order to help with household expenses.
Thanks to her efforts and her desire to get ahead, Paula is the coordinator. She has a business selling hogs out of her home. She works eight hours a day selling her hogs. The goal of the loan is to invest in working capital and to stock her business, so that in a not-so-distant future, she can increase her earnings.
The Estrella del Apante community bank is grateful for the help that Kiva investors provide them so that they can make a respectable living.
Gracias a su esfuerzo y sus ganas de salir adelante la coordinadora es Paula y tiene por actividad económica la venta de cerdos en pie, el negocio lo tiene ubicado en su casa de habitación. Ella dedica a su negocio unas 8 horas diarias, ofreciendo sus productos. El objetivo del crédito es invertir en la compra y venta de cerdos en pie para que en un futuro no muy lejano pueda obtener mejores ingresos. Estrella del Apante agradece la ayuda que los inversionistas kiva les brindan a personas de escasos recursos y países como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsThe community bank Estrella del Apante, is made up of nine members: seven women and two men, mothers and fathers who have a total of 15 children under their care. They hail from Telica, a place that is situated in the western part of the country. They are known for being hardworking and re... More from Estrella Del Apante 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