Las Encantadoras Group
She needs the loan to buy plantains, potatoes, oil, bags, cabbage, and more. With the previous loan she was able to improve her business by purchasing new pots and ladles. This increased her profits and has motivated her to continue borrowing from this institution.
Another member is María who is 23 years old and sells vegetables such as onion, tomato, peppers, and more. Sandra is 36 years old and makes red bean tamales which she offers to her neighbors in the community. She also sells soup twice a week from her home. Thirty-five-year-old María buys seasonal harvests. She will use the money to invest in avocado harvests. Finally, the 52-year-old María is the owner of a mini-mart and sells fruit wholesale.
About ADIMLocated in Central America, ADIM is a small microfinance institution with a strong social focus. In the saturated microfinance market of Nicaragua, ADIM stands out for its emphasis on the holistic development of women as well as its provision of responsible financial services. Founded in 1989 by a small group of Nicaraguan women, this institution has remained true to its initial goal of providing its clients (90% of which are women) with an opportunity for economic growth, in addition to personal and professional empowerment. Supporting an ADIM borrower means contributing not only to the continued offering of the socially conscious services it provides, but also to the sustainable growth of a truly unique microfinance institution.
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