Estrella Resplandeciente Group
Update on Estrella Resplandeciente GroupThis solidarity group is made up of four working members and is coordinated by María Elena. She is 62 years old, married and has three children. María Elena works selling footwear and second hand clothing in her home and the surrounding community. This business was set up fifteen years ago with the financial help of her husband. She is asking for a loan to buy packs of pants, dresses, shorts and t-shirts as well as sandals and shoes for men and women. With previous loans, she has been able to pay for her children to study as well as to buy personal items.
The other members are; Maricela, 63, who has been serving food for five years, primarily to workers of the free zone, Teresa, 62, who has run a sewing business in her house for thirty years as well as selling AVON products to the people of her community, and Martha, 57, who has also run a sewing business in her house for ten years.
Previous Loan DetailsThis group is made up of four hardworking micro-entrepreneur partners. One of them is María Elena, who is 57 years old and married with three children. Her business for the past 17 years has been sellling clothing. She has been a client of the institution for two years, and she is requesting this... More from Estrella Resplandeciente 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
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