Maila: She is a happy and social woman. She is originally from Waspam, 33 years old, married, and has 3 teenage children who are in school. Her husband works at an institution of the central government as a driver. With the purpose of having her own source of income, she established a small grocery store a year ago. She is requesting her first loan to increase her inventory, diversify her merchandise, and offer new products to her customers: basic grains, bread, cleaning supplies, and snacks. For the past year she has also been selling cosmetics by catalogs. Her dream is for her business to grow in order to improve her quality of life and that of her family and so that her children can receive a university education.
Maila: Es una señora alegre y sociable, originaria de Waspam, tiene 33 años de edad, casada con 3 hijos, adolecentes, que están cursando su primaria. Su esposo trabaja en una institución del gobierno central, como conductor. Con el propósito de tener su propia fuente de ingresos, desde hace un año estableció una pequeña pulpería. Solicita su primer financiamiento para aumentar su inventario y diversificar su mercadería y ofrecer nuevos productos a sus clientes: Granos básicos, pan, materiales de limpieza, chivería. También vende desde hace un año cosméticos por catálogos. Su sueño es que su negocio crezca para mejorar su calidad de vida y la de su familia y que sus hijos estudien una carrera universitaria.
About Pana Pana
Pana Pana is a nonprofit civil association founded in 1990 in Nicaragua. The organization’s official name is Asociacion para el Desarrollo de la Costa Atlantica (Association for the Development of the Atlantic Coast) but they have always been know as Pana Pana which means “mutual help” in the local language.
Pana Pana offers loans for commerce, housing, and a small number of agriculture loans. They also have a small social development unit that runs Pana Pana’s non-financial services. This includes technical assistance for housing loans and the development of a water and sanitation project.
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.