Update on Sayda MelaniaSayda Melania, 34, is a single mother of a 7-year-old son who goes to elementary school. Sayda is from the town of Sauce which is located in the northern part of the country. She runs a grocery store out of her house and has been in business for several years. Her store sells products in small quantities such as packs of cookies, boxes of matches, or small bags (a pound or pound and a half) of grain.
Sayda is known for being a very hard-working woman who makes every effort, as a single mother, to provide for her family. And, now she must deal with the problem of her mother's failing health, since she is the care giver. Sayda has worked with the Foundation before and is very responsible paying back the loan. She began her business through her own efforts and learned the trade from her mother who also ran a store.
She is requesting a loan to use as work capital to stock her store with daily consumption groceries such as rice, beans, bread, milk, eggs, chicken, barley and matches. Sayda is grateful for the help being given to people with scarce resources who live in poor countries like Nicaragua, so they can earn a decent living.
Previous Loan DetailsSayda Melania is 33 years old and has one dependent child. Her business is a grocery store which is located in her home. She started her business more than seven years ago and is always looking for ways to improve her income. It hasn't been easy keeping her business running but, with a lot of ... More from Sayda Melania'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