Rayito De Sol Group
Update on Rayito De Sol GroupThis communal bank is comprised of three successful members and coordinated by Shujeylin, who is 26 years old, married and has two children aged 10 and 5. She sells fruits and vegetables at the markets of Masaya and Managua. She started this business three years ago in order to help with the home expenses and be able to buy things that her children need.
Shujeylin is requesting a loan to buy avocado, mango and cassava. These products are highly demanded by customers at the marketplaces.
The remaining members are Miguel, 31, who has been selling clothes to the Free-Trade Zone workers for two years; and Elizabeth, 27, who sells perishable goods at Masaya’s market. They say that they were able to increase their sales and invest on their businesses thanks to the previous loan.
Previous Loan DetailsThis group is comprised of three members who own small businesses. One of the members is Jessenia, 30. She is married and has two children. She has a business in giving children rides to school from the Pacayita region to Diriomito and Catarina. She has had this business for two years. She is re... More from Rayito De Sol 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
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