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This is José, a microbusiness owner who is familiar with the work of these two institutions because in the past they gave him a loan for his crops.
This time it is to start the planting cycle. For this, he is looking for another Kiva loan from MiCredito to pay to prepare the land and pay the employees who will plant three hectares of beans. In the future he wishes to grow carrot and celery.
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Translated from Spanish by Kiva volunteer Alix F. View original language description.
Él es José, un microempresario quien ya conoce el trabajo de estas dos instituciones porque en el pasado le otorgaron un crédito para su cosecha. Esta vez está por iniciar el ciclo de siembra, por ello, busca en MiCrédito otro préstamo Kiva para pagar la preparación de la tierra y pagarles a los empleados quienes se encargarán de sembrar 3 hectáreas de frijoles. En un futuro desea cultivar zanahoria y apio.
MiCredito operates in both Nicaragua and Costa Rica.
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
A Lending Partner's average loan size is expressed as a percentage of the country's gross national annual income per capita. Loans that are smaller (that is, as a lower percentage of gross national income per capita) are generally made to more economically disadvantaged populations. However, these same loans are generally more costly for the Lending Partner to originate, disburse and collect.
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
A Lending Partner's average loan size is expressed as a percentage of the country's gross national annual income per capita. Loans that are smaller (that is, as a lower percentage of gross national income per capita) are generally made to more economically disadvantaged populations. However, these same loans are generally more costly for the Lending Partner to originate, disburse and collect.
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