Total loan: $5,000
Las Lajas Community Bank Group
Las Lajas, Boaco, Nicaragua / Services
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Las Lajas Community Bank Group's loan finished fundraising,
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A loan helped to provide basic financial services and financial inclusion to its community in rural Nicaragua.
Las Lajas Community Bank Group's story
Located in the dry corridor of Nicaragua, the inhabitants of the community of Las Lajas are very enterprising. They are mainly dedicated to agriculture and commerce. The community bank is a small financial institution that provides access to savings, micro-credits, and financial literacy education. Las Lajas has been historically excluded from traditional financial institutions. This community-led and community-owned bank provides these members with a chance for financial inclusion in their own community. It is trained and monitored by Global Brigades team, guaranteeing transparency, community empowerment and financial inclusion for the inhabitants of Las Lajas. This community bank has an excellent portfolio performance, maintaining a 0% delinquency since its founding in 2018. The community bank members are making great efforts to acquire land and produce food for commercialization and to generate income for their families. With this loan, this community-owned bank will provide access to much-needed working capital to its members that plant beans for a living. Also, part of the interest generated by these smaller loans will help the community-owned bank’s growth and contribute to the dividends to be shared annually among the members. Thank you for being part of Las Lajas economic empowerment! In the photo: Ana (secretary), Bernis (president) and Darling (treasurer).