De Confianza Los Cerritos Group
Update on De Confianza Los Cerritos GroupThe Communal Bank “De Confianza Los Cerritos” consists of 11 members, 10 women and 1 man. They are responsible parents who are responsible for 20 children among them. The members are originally from El Sauce, a place that is located in the northern part of the region. They are known for being hardworking, responsible, and having the drive to succeed on a personal level. Unfortunately, they lacked the financial resources required to pursue a degree, so they were obligated to work at a young age in order to help with the household expenses. At the moment, they strive each day to provide a better future for their children.
Thanks to her effort and her desire to move forward, Ana was appointed the group coordinator. Her business is a small store where she sells products in small quantities including rice, beans, sugar, milk, bread, eggs, salt, matches, juices, sodas, cheese, and vegetables. Ana devotes about 12 hours to her business by offering her products. The purpose of her loan is to invest it as operating capital so that she can restock her business of buying and selling products. In the near future, she would like to generate more income.
The group “De Confianza Los Cerritos” appreciates the assistance that the Kiva lenders provide to people who have limited resources and come from poor countries, such as Nicaragua, so that they can earn a decent living.
Gracias a su esfuerzo y sus ganas de salir adelante la coordinadora es Ana y tiene por actividad económica una pulpería es una pequeña tienda que vende productos comestibles en cantidades pequeñas como: arroz, frijoles, azúcar, leche, pan, huevos, sal, fósforos, jugos, gaseosas, queso, verduras, jugos. 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, para que en un futuro no muy lejano pueda obtener mejores ingresos. De confianza los Cerritos 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 DetailsThe Confianza los Cerritos communal bank is made up of 10 members, all of whom are women from the community of Malpaisillo with 15 children in their care. These women are hardworking and responsible people who have a desire to overcome in order to give their children a better future. Juana Franc... More from De Confianza Los Cerritos 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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