Update on Ramon NonatoRamón Nonato, 67 years old, is married and has 6 adult children who are independent. He is originally from the department of León, which is in the western region. León is known for being a tourist area. Ramón Nonato works at a grocery store, which is in his home. He has had this business for 11 years.
At the grocery store, he sells retail products such as coffee, shampoo, tomato sauce, rice, beans, soap, sugar, milk, and bread. All of these come in small quantities. He started the business as a way to have income for his family, since he does not have an education due to a lack of resources and money. Ramón Nonato appreciates the help that Kiva lenders provide to small businesses with limited resources in poor countries such as Nicaragua. This allows individuals to have a dignified standard of living.
Previous Loan DetailsMr. Ramón Nonato, 64, has 6 children who all work independently; he’s been a grocer for several years. Ramón will use the funds to buy stock items like: sweets, beverages, bread, milk and detergents to sell both at wholesale and retail. His wish is that his children become professionals... More from Ramon Nonato'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