Update on LenuelLenuel, 61, is married with five adult children. His business is selling products for lathes, which he sells in the street and on order to regular and occasional customers. This job came from needing to have his own income because of the years the doctor prohibited him from working as a lathe operator due to a problem with his spine. He has two years of experience.
Selling the materials for a lathe operator was a response to his needs, because he has a lot of experience in the field, which entails selling parts such as bronze, iron, and aluminum.
This has been possible thanks to the support that the foundation and Kiva have given to people for job initiatives.
Previous Loan DetailsFor fifteen years, Don Leunel has had a welding business. He was trained and educated in the trade. He has a good credit history with Fundación León 2000. He has used his past loans to buy materials, and he will use this loan to buy aluminum, iron and bronze. Don Leunel says that he has a lot of… More from Lenuel'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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