Update on Ricardo AntonioThe entrepreneur Ricardo Antonio is married and has as a business an upholstery shop, located in his own home, which has supported him by financing the purchase of materials for the upholstery shop. The entrepreneur has already taken out a loan with Fundación León 2000. In the course of handling his loan he has shown himself to be a responsible person with good values. He has dreams and goals in life to improve himself as a person and in the business. Currently he is seeking financing for the purchase of more materials for upholstering such as nails, fabric, glue, zippers, and leather among other items, since his primary production is making protective equipment for various stores.
Previous Loan DetailsRicardo Antonio is 54 years old. He has an upholstery business. He has been doing for more than 30 years, which is why this is not the first time he has taken out loans, which have been very helpful for improving his business. The name of his business is L. Upholstery. With much hard work, he has... More from Ricardo Antonio'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