Las Ovejas De Cristo Group
Update on Las Ovejas De Cristo GroupThe communal bank, Las Ovejas de Cristo (Christ's Sheep) is made up of nine members, eight women and one man. They are mothers and a father who are responsible for fifteen children. They are from Malpaisillo which is located in the western part of the country. They are characterized as being responsible, hard workers, who want to improve their personal situation.
Thanks to her efforts and desire to get ahead, the coordinator is Claudia. Unfortunately, she was not able to pursue a career for lack of financial resources, but she fights day-to-day to provide a better future for her children. She has a small store where she sells groceries in small quantities such as rice, beans, sugar, milk, bread, eggs, tiste (local beverage), juice, carbonated beverages, and detergent. She works 12 hours a day at her store selling her products.
The purpose of the loan is to invest in working capital and the business by buying and selling groceries so that in the near future she might increase her income. Las Ovejas de Cristo appreciates the help that Kiva investors are providing to people with scarce financial means in poor countries like Nicaragua, allowing them to work in a dignified way.
Gracias a su esfuerzo y sus ganas de salir adelante la coordinadora es Claudia tiene por actividad económica una pulpería, es una pequeña tienda que vende productos comestibles en cantidades pequeñas como arroz, frijoles, azúcar, leche, pan, detergente, huevos, tiste, jugos, gaseosas. 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 productos comestibles para que en un futuro no muy lejano pueda obtener mejores ingresos. Las Ovejas de Cristo agradece la ayuda que los inversionistas kiva les brindan a personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsThe group "Las Ovejas de Cristo" [Christ's sheep] is made up of 9 members, seven women and two men, all mothers and fathers with 15 children under their responsibility. These people come from Malpaisillo, a place which is in the North of the country. In their free time they like to spend quality… More from Las Ovejas De Cristo 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