Update on Marvin AlonsoMarvin Alonso is 47 years old, married, and has three children (ages 23, 21, and 12), two of whom are under his responsibility since they are studying. He is originally from the city of Managua and manages a business in which he sells vehicle accessories such as tires, rims, grease, mirrors, and seat covers. Marvin has 25 years of experience in running his business, which is situated in a specific location in town. He is a hardworking and responsible gentleman. With his previous loans, he demonstrated that he has a good record of paying on time and in the correct manner.
The loan he is requesting will be invested as operating capital in order to restock his small business. As a result, he will have more income and be able to provide better conditions for his children. One of his dreams is to see at least one of his children become a professional. Marvin Alonso is grateful for the assistance Kiva lenders have provided to people who have limited resources and are from poor countries, such as Nicaragua. This enables them to have sources of decent work.
Previous Loan DetailsMarvin Alonso is 46 years old and sells vehicle accessories and spare parts. He carries out this work door-to-door, but also has a business in a strategic location that his customers visit. This entrepreneur is applying for a loan in order to invest in the business by buying products such as… More from Marvin Alonso'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
- Repayment Term
- 6 months (Additional Information)
- Repayment Schedule
- Sep 11, 2012
- Oct 15, 2012
- Currency Exchange Loss:
- Feb 15, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.