Esperanza Del Socorro
Update on Esperanza Del SocorroEsperanza del Socorro, 56 years old, is from the municipality of Leon, located in the west of the country. Esperanza has 4 children, all of them adult and economically independent. She sells plastic bags of all sizes and 'tiste', a Nicaraguan drink made from corn and cinnamon. Her business has operated out of her home for some 8 years now.
Esperanza began the business when she was unemployed and had to find a new way of life to continue struggling and working for her daily bread. She has worked with the Foundation previously and demonstrated her responsibility by making the required payments on time.
Esperanza needs financing to purchase supplies such as plastic bags at wholesale, plus corn, cinnamon, and firewood. She is grateful for the help offered by Kiva investors so that people with scarce resources in poor countries like Nicaragua can have their own source of work.
Previous Loan DetailsEsperanza makes a living selling plastic bags and tiste, a popular regional drink. She has dedicated herself to this business for more than five years. She is a person with a lot of charisma who has shown herself to be very responsible. This is not her first loan request, and she feels very happy… More from Esperanza Del Socorro'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