Vecinos Unidos Group
Update on Vecinos Unidos GroupThe community bank of Vecinos Unidos (Neighbours United) is made up of 9 members, seven women and two men. Fathers and mothers who are responsible for 15 children between them, they are originally from Malpaisillo, situated in the north of the country. They are hard working, responsible people, who want to personally be successful and who enjoy spending their spare time with their family. This is an activity they enjoy a lot as these people have to work from early morning to late to provide food for their family. Unfortunately they could not study and saw the need to work from an early age to help with household expenses.
Thanks to their efforts and desire to succeed, the coordinator of the group/bank is Mabel who sells dairy products like curd, milk, both from her home and as a traveling vendor. She spends about 8 hours a day selling her products. The purpose of the loan is to invest as working capital and to stock up her business by buying milk and curd, so that in the near future she can get a better income. The Vecinos Unidos community bank thanks Kiva lender for the help they provide to people with few means and to poor countries like Nicaragua to allow them to have a means of dignified work.
Gracias a su esfuerzo y sus ganas de salir adelante la coordinadora del banco es Mabel y tiene por actividad económica la venta de productos lácteos como cuajada, leche, en su casa de habitación, y de forma ambulante. Ella dedica a su actividad unas 8 horas diarias ofreciendo su producto. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio en la compra y venta de leche, cuajada, para que en un futuro no muy lejano pueda obtener mejores ingresos. El banco comunal Vecinos Unidos 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 'Vecinos Unidos' community bank has 8 members: 7 women and 1 man. They are all responsible parents and, between them, they have 20 children in their care. They are all from Malpaisillo, in the north of the country, and are noted for being hard-working, responsible people who have a desire t... More from Vecinos Unidos 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