Estrella De Belen Group
Update on Estrella De Belen GroupThe Bethlehem Star Communal Bank is made up of nine single mothers who have fifteen children in total to take care of. They live in Malpaisillo, a town in the western part of the region. The women are hard-working and passionate about bettering themselves. Unfortunately, due to lack of financial resources, they could not go to college and had to work from a young age to help out with household expenses. Thanks to her hard work and drive to get ahead, Francisca (who is also the coordinator) owns a convenience store which sells groceries such as rice, sugar, milk, eggs, cheese, butter, tiste (Nicaraguan chocolate drink), tomatoes, matches, soap and detergent. She works twelve hours a day in the store and hopes to increase her income in the near future. Bethlehem Star is grateful for the help that Kiva investors give to them and other people on low-incomes in poor countries like Nicaragua, allowing them to make a living in a dignified way.
La asociación comunal Estrella de Belén está conformado por nueve mujeres madres solteras con quince hijos bajo su responsabilidad. Son originarios de Malpaisillo, lugar que está ubicado en la zona de occidente de la región. se caracteriza por ser trabajadores, responsables, con ganas de superación personal. Lamentablemente por falta de recursos económicos no pudieron estudiar una carrea y se vieron en la necesidad de trabajar a temprana edad, pará ayudar con los gastos del hogar.
Gracias a su esfuerzo y sus ganas de salir adelante la coordinadora es Francisca y tiene por actividad económica una pulpería es una pequeña tienda que vende productos comestibles en cantidades pequeñas como: arroz, azúcar, leche, huevos, queso, mantequilla, tiste, tomates, fósforos, jabón cloro, detergente. Ella dedica a su negocio unas doce horas diarias ofreciendo su producto, para que en un futuro no muy lejano pueda obtener mejores ingresos. Estrella de Belén agradece la ayuda que los inversionista kiva le brindan a personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsThe Estrella de Belén Communal Bank is made up of ten members, nine women and one man, responsible mothers and fathers with 15 children under their care. They are from Malpaisillo, which is located in the western region of the country. They are known for being hardworking, responsible, and driv... More from Estrella De Belen 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