Estrella Del Mar Group
Update on Estrella Del Mar GroupThe solidarity group Estrella del Mar [Star of the Sea] was originally made up of three members, one of whom has passed away. The two surviving members are Deysi and Alicia, natives of the department of Chinandega, which is located in the western part of the country. Deysi and Alicia are mother and daughter, so they decided to request a joint loan to help each other economically and invest in their different businesses. As the coordinator of this group, Alicia is responsible for making loan payments and complying with the terms of the loan.
Alicia is a microentrepreneur with a business selling candies such as dulce de leche and atole [a sweet corn-based drink] in addition to cigarettes and carbonated soft drinks. She also has three pool tables that she rents to the public who come to play.
Deysi has a small grocery store that she has been expanding and she also now has a store where she sells clothing, footwear and other merchandise. She began selling her merchandise in the streets from a small bag she carried with her. With the loans she has received, her business has grown to the point that she now has a beautiful small shop.
Alicia and Deysi are requesting this loan to continue expanding their businesses. They are grateful to Kiva lenders for the help they give to microentrepreneurs in developing countries like Nicaragua.
Previous Loan DetailsThe “Estrella Del Mar” (Star of the Sea) solidarity group has two entrepreneurs who have been working with Fundación León 2000 loans. During the financing the entrepreneurs have shown themselves to be responsible and having goals for self-improvement in life. Alicia sells beverages and fr... More from Estrella Del Mar Group's previous loan »
Fundación Leon 2000This loan is administered by Fundación Leon 2000. Fundación Leon 2000 began operations in 1993 as the first microfinance institution to serve the western part of Nicaragua, a country which continues to be one of the poorest in the western hemisphere. Fundación Leon 2000 works to further the development of micro, small, and medium enterprises through credit services and management, applying the best credit industry practices and technical expertise. Additionally, Fundación Leon manages several business and financial education programs in the community, specifically for young entrepreneurs and at-risk youth. Fundación Leon 2000’s group of experienced and dedicated employees works in 7 offices in Leon, Chinandega, Chichigalpa, Somotillo, Jinotepe, El Sauce, and Nagarote and serves several thousand clients (the majority of whom are women).
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