Update on Rosa EligiaRosa Eligia is an entrepreneur who has fought to get ahead. With much effort she has raised her children to give them the best. This is not the first time Rosa has taken out a loan, since she has already been in several cycles and has shown herself to be an entrepreneur with goals and a desire to get ahead in her life and business. Rosa tells us that with the financing that we have offered her, she has been able to increase her inventory and above all, her customers who visit her, both the regulars and the walk-ins. Rosa also tells us that this year her daughter is graduating. It is one of her dreams to see them get head with her hard work. At present, Rosa is asking for a loan to invest in her business, buying firewood, sugar, rice, seasoning, bags and more.
Previous Loan DetailsRosa Eligia is 47 years old. This is not the first time that she has had loans; they have always been necessary in her life and her business. Her economic activity is preparing and selling spices. She has been in this business for more than 8 years, since she has to figure out how to deal with the… More from Rosa Eligia's previous loan »
Fundación Leon 2000This 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.
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Success!! The loan was 100% repaid