She is requesting a loan in order to make a home improvement, which consists of replacing the roof of her garage where her husband has a cabinetmaking workshop. Olga also wants to replace the roof over the rooms. She says that she has wanted to complete these improvements for the past year, but she lacks the financial resources to make this happen. Her family is the main reason why she wants to make these improvements since part of the outcome will help her husband generate income from his work so that they can support themselves.
Olga has already obtained loans from Fundación León 2000 and has demonstrated that she is responsible in submitting her payments on time. With this loan, she will buy construction materials such as zinc, crossbeams, nails, cement, and wire. In the near future, she dreams of seeing her child become a professional and completing the improvements to her house so that she can provide stability and protection for her family. Sra. Olga is grateful for the assistance Kiva lenders have provided to people with limited resources in poor countries so that they can have a place of their own and a decent life.
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).
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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Success!! The loan was 100% repaid