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Francisca Del Socorro

Update on Francisca Del Socorro

Francisca del Socorro has been a Fundación León 2000 client for a long time. She has made many improvements to her business thanks to the loans. She started out six years ago with a small used clothes store. Because the business wasn’t very profitable she decided to close it when her husband retired. It was with her husband that she then decided to open this business. The reason for the loan is for the purchase of eggs, noodles, cheese, butter, sugar, salt, and other products.
View original language description ↓
Francisca Del Socorro tiene mucho tiempo de ser cliente de Fundación León 2000, pues ha realizado muchas mejoras de su negocio gracias a los financiamientos. Inicio hace 6 años, con una pequeña de tienda de ropa usada debido a que el negocio no era muy rentable decidió quitarlo cuando su esposo se jubilo y fue con su esposo que decidió realizar este negocio. el motivo del financiamiento es para la compra de huevos, fideos, queso, mantequilla, azucar, sal entre otros productos.

Previous Loan Details

Every day Francisca works in her own business, where she sells baked items. This is how she makes an income for her daily subsistence and to support her household, since having children means a constant struggle to get ahead. Five years ago she made a decision to become a businesswoman to make an... More from Francisca Del Socorro'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

  • $3,636
    Average annual income
  • 117
    View loans »
    Nicaragua Loans Fundraising
  • $23,803,650
    Funds lent in using Kiva
  • 22.8
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $700 helped Francisca Del Socorro to buy flour, eggs, cheese, butter, sugar, cinnamon and cornmeal.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 28, 2011
Listed
Oct 21, 2011
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013