Luis Alberto has applied for a loan for his business of making adobe bricks and roofing tiles. The money will be used to purchase the wood and clay that are necessary to form and shape the materials. He learned the trade from his father and established his own workshop seven years ago. Luis Alberto says that he is grateful for this skill, as it allows him to have his own business as well as improve his own home. He cites the economic crisis as the reason for a low demand for construction materials. Luis Alberto hopes that his business will ensure that he can remain self-sufficient, and that he can provide a decent living for his family. Luis Alberto is not married and has no children.
Fundación Leon 2000
This loan is administered by Fundación Leon 2000. Fundación Leon 2000 began operations in 1993 as the first microfinance institution to serve the western part of Nicaragua, a country which continues to be one of the poorest in the western hemisphere. Fundación Leon 2000 works to further the development of micro, small, and medium enterprises through credit services and management, applying the best credit industry practices and technical expertise. Additionally, Fundación Leon manages several business and financial education programs in the community, specifically for young entrepreneurs and at-risk youth. Fundación Leon 2000’s group of experienced and dedicated employees works in 7 offices in Leon, Chinandega, Chichigalpa, Somotillo, Jinotepe, El Sauce, and Nagarote and serves several thousand clients (the majority of whom are women).