A loan of $1,150 helps a member to buy ingredients to make food to sell.
Magnolia Group’s story
The communal bank “Magnolia” has 4 enterprising members who want to continue working and improving their businesses. They have been working with ADIM for 25 loan cycles.
Maria, the coordinator of the group, is 45 years old. She lives with a partner and her son, who is 17. She’s had a business selling food and soft drinks for 16 years. Her mother and her son help her to cook the food.
Maria is requesting a loan from Kiva to buy pork rinds, chicken, pork, tortillas, rice, cheese, cabbage, lettuce, and tomatoes. Her goal is to to have a variety of dishes to sell, and she also wants to incorporate the sale of used clothing to her business.
With the earnings from her previous loan, Maria was able to invest in her business. The other group members are Catherine, 25, who sells a variety of products, and Damarys, 45, who sells shoes, soft drinks, and cell phone recharges.
In this group: Maria Elizabeth, Damarys De La Concepción, Catherine Guadalupe
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About Asociación Alternativa Para el Desarrollo Integral de las Mujeres (ADIM):
Located 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.