Las Vecinas Group
Update on Las Vecinas GroupThis group has three successful members and is coordinated by 27-year-old Yaritza. She is married and a mother to one nine-year-old son. Yaritza makes a living selling new and second-hand clothing as a a street vendor. She works seven days per week. Yaritza needs this loan in order to buy packs of new and good quality clothes. She will buy shirts, shorts, trousers and dresses.
Another member of the group is 43-year-old Pabla. She makes a living as a street vendor selling various products to people in the community. Susana, 59 years old, has been selling meals from her home for six years.
The members are applying for this loan in order to increase sales and profits. Previous loans have helped them to make improvements to their business.
Previous Loan DetailsThe three members of this group are successful entrepreneurs. One of them is Yuritza, who started selling bicycle accessories a year ago. She used her earnings to buy motorcycle accessories and continues to sell these items today. The loan she is requesting will be used to buy accessories such... More from Las Vecinas Group's previous loan »
About ADIMLocated in Central America, ADIM is a small microfinance institution with a strong social focus. In the saturated microfinance market of Nicaragua, ADIM stands out for its emphasis on the holistic development of women as well as its provision of responsible financial services. Founded in 1989 by a small group of Nicaraguan women, this institution has remained true to its initial goal of providing its clients (90% of which are women) with an opportunity for economic growth, in addition to personal and professional empowerment. Supporting an ADIM borrower means contributing not only to the continued offering of the socially conscious services it provides, but also to the sustainable growth of a truly unique microfinance institution.
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
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- Repayment Term
- 12 months (Additional Information)
- Repayment Schedule
- May 8, 2014
- May 24, 2014
- Currency Exchange Loss:
- Jun 23, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.