Santa Lucia Group
Update on Santa Lucia GroupThe communal bank group Santa Lucia is made up of eight members: seven women and one man. They are from Sauce, which is located in the northern part of the country. They are the responsible parents of 20 children. Each of the group's members is hardworking, responsible, and looking to excel. Unfortunately, none of the members were able to finish school because of financial hardship. Each one fights every day in order to offer their children a better future.
Thanks to her hard work and the desire to move forward, Petrona became the coordinator of the Santa Lucia communal bank group. She makes a living raising and selling pigs from her home. She is requesting this loan in order to have working capital to invest in the purchase of pigs to raise and later sell at a good price. In this way, she hopes to increase her profits.
The Santa Lucia communal bank group is very grateful for the support Kiva lenders offer to people in developing countries like Nicaragua where financial resources are scarce, so that the people can find dignified work.
Gracias a su esfuerzo y sus ganas de salir adelante Petrona es la coordinadora del banco comunal Santa Lucia y tiene por actividad económica la crianza y venta de cerdos en pie. Actividad que la desempeña en su casa de habitación, el objetivo del crédito es invertir en capital de trabajo y surtir su negocio en la compra y venta de cerdos en pie que se lo ofrecen a buen precio, para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal Santa Lucia agradece la ayuda que los inversionistas kiva le brindan a personas d escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsThe Santa Lucia Community Bank has eight members, seven women and one man. They are single mothers or single fathers with ten children to care for. All are known for their hard work and effort to help their children get ahead and give them opportunities in life. The members come from El Sauce in ... More from Santa Lucia 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