Rios De Agua Viva Group
Update on Rios De Agua Viva GroupThe community bank Ríos de Agua Viva is comprised of 12 members, 11 women and 1 man. They are responsible mothers and fathers who have 15 children in their care. They are from Malpaisillo which is located in the western part of the country. They are hardworking, responsible people with a desire to succeed. In their spare time, they enjoy the company of their children. Unfortunately, they were not able to study and were obliged to work in order to help with the household expenses.
Thanks to their efforts and their desire to get ahead, the coordinator of the community bank, Ayda, works selling second hand clothes such as pants, shirts, skirts, shorts, bed clothes, pajamas, and kids clothes. She works about 10 hours a day selling her products. The goal of this loan is to gain working capital to supply her store with second hand clothes to sell so that, in the near future, she will have a better income. The community bank Ríos de Agua Viva is grateful for the help that the Kiva lenders offer to people who have scarce resources and to poor countries like Nicaragua so that they can have dignified work.
Gracias a su esfuerzo y sus ganas de salir adelante la coordinadora es Ayda y tiene por actividad la venta de ropa usada como pantalones, faldas, short, camisas, ropa de cama, ropa de niño. Ella dedica a su negocio unas 10 horas diarias ofreciendo sus productos. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio en la compra y venta de pacas de ropa de segunda mano, para que en un futuro no muy lejano pueda obtener mejores ingresos. Ríos de agua Viva 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 community bank Ríos de Agua Viva is comprised of 9 members, 8 women and 1 man. They are responsible mothers and fathers who have 15 children in their care. They are hardworking, responsible people with a desire to succeed. In their spare time, they enjoy the company of their children and they... More from Rios De Agua Viva 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