Update on Josefa MaritzaJosefa Maritza is 54 years old. She is married and has an adult son who attends the local university. Josefa is originally from the city of León, which is located in the western part of the country. Her business is the sale of meat. She has worked in this activity for 23 years. Her business consists of selling pork, beef, and chicken. The business is located in the local market. Pictured in the photo with Josefa is a client buying meat. Josefa Maritza began the business out of the need to have a source of employment to help with the household expenses. She has already had a loan from the foundation and has shown that she is responsible [in making her payments] on time and properly. Now she needs the financing to invest in working capital and purchase a variety of good quality meat. Josefa Maritza is grateful for the help that the Kiva investors offer to people of scarce resources and poor countries such as Nicaragua to have a means of living with dignity.
Previous Loan Details54 year old Josefa is married and has one child in her care. She runs a butchers in the local market. She has been running this business for 21 years. She started the business to generate income for the household. She has always been very responsible about her repayments, and this is not the first… More from Josefa Maritza'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