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Genesis Group
In this Group: Fabiola Del Carmen , Eliezer Antonio, Manfield De Jose

Update on Genesis Group

This group is made up of three hardworking members and is coordinated by Señor Manfield who is 25 years old. He is married, and has a son who is his motivation to get ahead so he can offer him a better quality of life. He works making bags and belts in his home and in the neighbouring country of Costa Rica. He relies on his wife (the mother of his son) for making the products.

He is asking for this loan in order to buy materials such as fabric, zippers, lining, thread, buckles, decorative elements, etc. The other members are Señora Fabiola who is 32 years old and sells clothing and cosmetics on a street stall, and Eliezer, who is 26 years old and sells footwear in his country, and in Costa Rica.
View original language description ↓
El grupo solidario está integrado por tres socios laborioso y coordinado por el señor Manfield de 25 años de edad, casado y padre de un hijo quien es su motivación para salir adelante y poder ofrecerle una mejor calidad de vida se dedica a la elaboración de bolsos y fajas en su domicilio y en el país vecino de Costa Rica, cuenta con la ayuda de la mamá y esposa para la elaboración de los productos, el crédito lo solicita para la compra de materiales como es tela, zipper, forro, hilo, hebillas, adornos, etc. Los otros socios son la señora Fabiola de 32 años comerciante de ropa nueva y cosméticos de manera ambulante y el señor Eliezer de 26 años comerciante de calzado en los departamentos del país y en Costa Rica.

Previous Loan Details

Eliezer is one of the four members who make up this group. He is 25 years old and single, with a young son who is his responsibility. His business for four years has been making and selling footwear in a section of the local market in Masaya. He has been a client of this institution for a year. H... More from Genesis Group's previous loan »

Additional Information

About ADIM

Located 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

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.

Tags

About Nicaragua

  • $3,636
    Average annual income
  • 142
    View loans »
    Nicaragua Loans Fundraising
  • $24,080,875
    Funds lent in using Kiva
  • 25.8
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A portion of Genesis Group's $1,725 loan helped a member to buy fabric, zippers, lining, thread etc.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 8, 2014
Listed
May 27, 2014
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2015