Nora Del Carmen
Update on Nora Del CarmenNora del Carmen is 59 years old and is a single mother with two children who are 31 and 29 years old. She is from the department of León, located in the west of the country. León is known for being a tourist area and it proudly has the Cathedral of León, which is World Heritage.
Nora del Carmen's economic activity is a store she has had for five years, located in her home. Nora's routine is to open doors to the public every day from 6am to 9pm to offer products to her clientele.
She needs the financing to stock her store with products of daily consumption such as rice, beans, sugar, candy, milk, bread, eggs, and vegetables, among others. Nora del Carmen is grateful for the help that Kiva lenders provide to business people with limited resources in poor countries such as Nicaragua.
Previous Loan DetailsNora Del Carmen is 58 years old. Nora has a business, which is a general store set up in her home. She has operated this business for 4 years. There she offers a range of everyday products, including basic necessities and groceries, to her neighbors and other customers from the area. The business… More from Nora Del Carmen'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