Dios Proveera Group
Update on Dios Proveera GroupThe communal association "Dios proveerá" is composed of 12 group members who are all responsible mothers with 20 children under their responsibility. All are from Malpaisillo, located in the northern zone of the region. The group members are hardworking, responsible, and aspire to personal excellence. Unfortunately, due to scarce financial resources, they were not able to go to college because they needed to begin working at an early age to help with their families' household expenses. Currently, they fight each day to provide their children with better futures.
Thanks to her hard work and desire to get ahead, the group coordinator, Mayarí runs her own store selling items such as rice, beans, sugar, milk, bread, eggs, sodas, and tiste (a Nicaraguan drink). She makes a living working 12 hours a day in her business. The objective of this loan is to invest in working capital and to buy groceries so that in the near future she may obtain better income.
The group Dios proveerá is grateful for the help Kiva lenders offer to people with little resources and from poor countries like Nicaragua so that they may find dignified work.
Gracias a su esfuerzo y sus ganas de salir adelante la coordinadora es Mayarí y tienen por actividad económica una pulpería es una pequeña tienda que vende productos comestibles en cantidades pequeñas como: arroz, frijoles, azúcar, leche, pan, huevos, gaseosas, tiste, pan. Ella dedica a su negocio unas doce horas diarias ofreciendo su producto. El objetivo del crédito es invertir en capital de trabajo y compra productos comestibles, para que en un futuro no muy lejano pueda obtener mejores ingresos. Dios proveerá 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 Dios Proveerá communal bank is comprised of ten members. They are single mothers with 12 children who are their responsibility. They are from Malpaisillo, a place that is located in the northern part of the country. Malpaisillo is known for its handicrafts and its typical food like… More from Dios Proveera 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