Update on Luvy JeanethLuvy Jeaneh is 27 years old, married and has a 4-year-old son. She is originally from Jicaral, which is in the northern part of the country. Luvy has always been known for being a very responsible, hardworking and well-mannered woman. She has had loans with Kiva partner Fundación León 2000 and has been responsible with her payments. Luvy makes a living selling clothing and cosmetics on the streets and has a regular customer base. Her routine is to go out to sell on the street 10 hours a day and deliver her goods, and she collects her payments every other week. She is requesting the loan to stock her small business and take advantage of the time of year when sales peak around Christmastime. She plans to purchase shirts, pants, shorts, skirts, lipsticks, perfumes, and body lotions. Luvy is grateful for the help Kiva lenders provide to people of scant resources in countries like Nicaragua so they can have a decent life.
Previous Loan DetailsLuvy Jeaneth lives in her own home with her son who is still dependent on her. She has been in the clothes selling business for more than 8 years. In the past, she didn't have sufficient capital to keep moving forward but a friend gave her a loan to start her business and little by little she h... More from Luvy Jeaneth'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