Banco Comunal Arca De Noe Group
Update on Banco Comunal Arca De Noe GroupThe “Arca de Noé” (Noah’s Ark) communal bank consists of 8 single mothers with 20 children in their care. They are from El Sauce which is a place located in the north of the country. They are noted for being hardworking, responsible women who very much want to improve personally. They strive daily to provide their children with a better future. Sadly, owing to the lack of economic resources they were obliged to start working at a very young age and were unable to attend school.
Glady’s is the Arca de Noé coordinator. Her economic activity is selling traditional home-cooked dishes like meat and vegetables, ‘indio viejo’ [corn-based stew], rice, grilled meat, white beans, fried plantain, fried cheese, grilled and fried chicken and chicken soup. She spends about 8 hours daily preparing and selling food from home. The objective of the loan is to invest in working capital and to buy basic grains needed to prepare her dishes so in a not too distant future to earn better income.
The Arca de Noé communal bank thanks Kiva lenders who provide for people of scarce resources and to poor countries like Nicaragua so they can have a way to earn a livelihood with dignity.
Gladys es la coordinadora del banco comunal El Arca de Noé y tiene por actividad económica la venta de comida corriente como carne tapada, indio viejo, arroz aguado, carne asada, frijoles blancos, maduros, queso frito, pollo asada, frito, en caldio. Ella dedica a su actividad unas 8 horas diarias preparando y ofreciendo comida en su casa de habitación. El objetivo del crédito es invertir en capital de trabajo y comprar granos básicos para elaborar su comida, y en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal EL Arca de Noé agradece la ayuda que los inversionistas kiva le brindan a personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno
Previous Loan DetailsThe Arca de Noe (Noah’s Ark) communal bank has nine members. They are all single mothers with 24 children in their care. They are in Sauce which is located in northern part of the country. Sauce is an area known for the production cuajada (curd), cream, milk and cheese. These women have been char... More from Banco Comunal Arca De Noe 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