El Triunfo Group
Update on El Triunfo GroupThe communal bank "El Triunfo" is comprised of nine members, seven women and two men. The are responsible mothers and fathers, with fifteen children under their care. They are originally from Malpaisillo which is located in the north of the region and are characterized by being hardworking, responsible, wanting to improve themselves.
Unfortunately due to lack of economic resources, they could not pursue a career and saw the need to work to help with household expenses. Today, they struggle every day to provide a better future for their children.
Thanks to her efforts and desire to succeed, Dora is the coordinator and her business is running a bar and restaurant in her home. She devotes to her business about twelve hours daily offering her products. The purpose of the loan is to invest in working capital and stock her business for the purchase and sale of food products such as meat, rice, beans, sugar, tomatoes, cucumber, soft drinks, fresh juices, and homemade a variety of homemade dishes to please her clients so that in the near future she will have better income. El Triunfo is grateful for the assistance that the Kiva investors provide for poor people and poor countries like Nicaragua so as to have a means of decent work.
Gracias a su esfuerzo y sus ganas de salir adelante la coordinadora es Dora y tiene por actividad económica el servicio de bar y restaurante en su casa de habitación. Ella dedica a su negocio unas doce 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 como: carne, arroz, frijoles, azúcar, tomates, pepino, gaseosas, jugos naturales, para la preparacion de ricos platos caseros de comida y tener varidad y agradar a sus clients para que en un futuro no muy lejano pueda obtener mejores ingresos. El triunfo 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 communal bank El Triunfo is made up of 9 members, 8 women and 1 man, mothers and fathers responsible for their families. They are originally from Malpaisillo which is located in the northern zone of the country. These people are characterized by being hard working, responsible, and wanting to… More from El Triunfo 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