Alfa Y Omega Group
Update on Alfa Y Omega GroupThis solidarity group includes three members. One of them is the coordinator Maria, who is 51 years old, in a relationship, and the mother of five children, none of whom are dependents. She works for a living selling beans, tortillas, and other food from her home. She started this business 16 years ago with a severance pay given to her by her previous place of work.
She is requesting the loan to purchase soda, corn, rice, beans, cabbage, beets, carrots, bundles of firewood, etc. Through the loans given by the institution, she has been able to increase her income, make improvements to her house, and expand her business, since before she only offered beans and tortillas in her home. These have been great successes for her and her family.
The other members are Ángela, 59, who has a scrap metal business in her home, and Lilliam, 45, who sells cosmetics and clothing as a street vendor.
Previous Loan DetailsThis group is comprised of three determined women, one of whom is María. She is 50 years old, married and has two children in her care. She sells beans, tortillas and nacatamales from home where she has been in business for 16 years. María has been a client of the institution for six years... More from Alfa Y Omega Group's previous loan »
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.
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
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Success!! The loan was 100% repaid
- Repayment Term
- 8 months (Additional Information)
- Repayment Schedule
- May 8, 2014
- May 24, 2014
- Currency Exchange Loss:
- Dec 17, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.