Update on Emmanuel GroupThis group is made up of four hardworking businesswomen. The group coordinator is Heisell. She is twenty-six years old, is married, and has one son who is 14 months old; he is her motivation for moving herself forward, since she wants to be able to offer him a better life. She owns a sewing workshop, and has been running this business for the past six years out of her home. With the previous loans, she has been able to grow her business. For this reason, she is requesting a new loan. She would like to grow the production of her business by investing in the purchase of cloth, wool, synthetic material, thread, buttons, elastic bands, etc. With her past loans, she was able to grow her business by also buying small appliances.
The other members in the group are Carmen, Antonia, and Marling. Carmen is twenty-two years old and has made a living buying and selling fruit for two years in the Masaya market; her portion of the loan will permit her to buy melons. Antonia is fifty-three years old and has worked for five years in the local market buying and selling fruits and vegetables; she will use her portion of the loan to buy melon and squash. Marling is twenty-one years old and has four years of experience buying and selling harvest crops in the local market.
Previous Loan DetailsThis group consists of four businesswomen. One of them is Heisell. She is 25 years old, married, and has two dependent children. Her business involves making traditional clothing and it has been in existence for five years. Her products are sold at the municipal market and at the craft market… More from Emmanuel 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
- Repayment Term
- 11 months (Additional Information)
- Repayment Schedule
- May 16, 2014
- Jun 20, 2014
- Currency Exchange Loss:
- Jan 17, 2015
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.