Total loan: $8,000

Sierra Morena's Community-Owned Bank

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Sierra Morena, CA, Nicaragua / Services

Sierra Morena's Community-Owned Bank's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!

A loan helped to provide working capital for farmers of a rural community-owned bank.

Sierra Morena's Community-Owned Bank's story

Meet Sierra Morena's Community-Owned Bank!

The members of this community bank are applying for their first Kiva loan that will be used as working capital for coffee, plantain, and banana farms in the region. The $8,000 will finance seeds, fertilizers and the promotion of their products.

The $8,000 loan will directly benefit 13 members of the community bank, who are mostly farmers and are in need of working capital for their farms. These farmers sell their products at local shops. There is a great need for all these products which results in little to no competition between the members.

The bank consists of mostly women entrepreneurs. These women have previous experience working with providing micro-loans to their members from a small loan fund that they started with, so they already have a great understanding of portfolio management. Their ultimate goal for the loan is to help their community to grow and to sell their products, in order to better the local economy and to help to provide high-quality products to the local people that live there.

Thank you for contributing to the economic growth of under-resourced communities in Nicaragua that have been historically excluded from financial services.

The executive board of this community-owned bank are in this photo: Blanca, Angela and Segundo.