A loan of $1,100 helped a member stock their business with rice, beans, sugar, milk, bread, detergent, eggs, matches, cleaners, the beverage tiste, and tortillas.

El Progreso Group's story

The communal bank El Progreso is made up of nine members; eight women and one man. All are responsible mothers and fathers with a total of 15 children to care for. They are originally from Sauce, located in the northern part of the country. They are known for being hard working, responsible, and with the desire to succeed. In their free time they enjoy the company of their children and preparing traditional foods such as "buñuelos." Unfortunately, due to economic circumstances, they have been obliged to work from an early age.
Thanks to their efforts and their desire to make a better life, Blanca, the coordinator for the communal bank El Progreso, decided to work with them. She runs a grocery store where she sells products like rice, beans, sugar, milk, bread, detergent, eggs, matches, cleaners, a regional drink called tiste and tortillas. She spends 12 hours a day working in her store. The goal of this loan is to invest more working capital into her business and to stock her store so that in the near future she can have higher profits. The communal bank El Progreso thanks all those lenders at Kiva who help others with little resources in poor countries like Nicaragua to have a chance at a dignified life.

In this group: Maria Emperatriz, Francis Betania, Manuel Antonio, Ramona Antonia, Blanca Azucena, Petrona, Claudia Slite, Alejandrina Del Rosario, Migdalia Del Socorro

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Translated from Spanish by Kiva volunteer Kristin Connor

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