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Modesto Noel

Update on Modesto Noel

Modesto Noel has been a tailor for more than 42 years, and this is not the first time he his requesting loans to the Fundación, as he feels very happy about having a way to earn the income he needs for his family. He has 8 children to whom he has always given what they needed. Among the clothes he creates there are trousers, suits and graduation dresses. He is requesting a loan to buy threads, scissors and thimbles among other items.
View original language description ↓
Modesto Noel tiene su negocio que es brindar el servicio de costura. Hace más de 42 años que tiene este medio de vida, esta no es la primera vez que solicita créditos con Fundación por lo que siente muy feliz de tener un medio de ingreso que sea necesario para su hogar. Tiene 8 hijos y siempre les brindo lo que ellos necesitaban. Las prendas de vestir que realiza son pantalones, trajes, prendas de graduación entre otros. El motivo del crédito es para la compra hilos, telas, tijeras, dedales, entre otros.

Previous Loan Details

Modesto Noel, 62, has made a living as a tailor for more than 40 years. This isn´t his first loan. He has long worried about improving his income, right from the beginning when he started the business because he needed a source of income to pay household expenses. He has several customers who ... More from Modesto Noel's previous loan »

Additional Information

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).

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.

About Nicaragua

  • $4,800
    Average annual income
  • 109
    View loans »
    Nicaragua Loans Fundraising
  • $24,828,400
    Funds lent in using Kiva
  • 22.7
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Modesto Noel to buy threads, scissors and thimbles.
100% repaid
Repayment Term
24 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 19, 2011
Listed
Sep 29, 2011
Currency Exchange Loss:
Possible
Ended:
Aug 18, 2013
This photo was used before for a previous loan for Modesto Noel. It was first posted on Kiva on Mar, 2010. Learn More