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Servio

Update on Servio

Servio is 43 years old and from the community of Jicaral. He is married with two young children aged 14 and 9 who are studying in primary and secondary school. Servio has as his primary business, a "pulperia," or grocery store, located in his home, which he has been running for the past 9 years. A "pulperia" is a small store that sells a variety of groceries and daily necessities in small quantities such as bags of coffee, shampoo, packets of tomato sauce, cans of juice, sodas, refried beans, bread, sugar, tiste (a mixed corn and cacao beverage), and chicha (a drink made from fermented corn). The business was started as a way to help with the household expenses.

Servio has worked before with Fundación León 2000 and has shown himself to be responsible with his payments in both time and form. The objective of this loan is to invest in his working capital and stock his grocery to fulfill the needs of his customers and improve his earnings. Servio is thankful for the help that the investors of Kiva have given him, as it is thanks to their help that he is able to sustain his family through dignified means.
View original language description ↓
Servio de 43 años de edad, de la localidad del Jicaral, casado con dos hijos menores de edad, en edades comprendidas de 14 y 9 años y estudian en primaria y secundaria. Servio tiene por actividad económica una pulpería ubicada en su casa de habitación desde hace 9 años. Una pulpería es una tienda que vende productos comestible de consumo diario y en cantidades pequeñas como bolsitas de café, bolsitas de shapoo, bolsitas de salsa de tomate, jugos en latas, gaseosas, frijoles cosidos, pan, azúcar, tiste, chicha. El negocio lo inicio como una fuente de trabajo para ayudar con los gastos del hogar. Servio ya ha trabajado con fundación león 2000 y ha demostrado ser responsable en sus pagos en tiempo y forma. El objetivo del préstamo es para invertir en capital de trabajo y surtir su pulpería para satisfacer la demanda de sus clientes y mejorar sus ganancias. Servio agradece la ayuda que le brindan los inversionistas kiva ya que gracias a su ayuda el puedo tener una fuente de trabajo digna para mantener a su familia.

Previous Loan Details

Servio has a grocery store in his home. He is always seeking ways to generate income for his family. He makes his purchases on a cash basis at the market and from delivery trucks, since the prices there are lower and so his profits will be higher. He sells his products on a cash and credit bas... More from Servio's previous loan »

Additional Information

Fundación Leon 2000

This 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.

About Nicaragua

  • $3,636
    Average annual income
  • 119
    View loans »
    Nicaragua Loans Fundraising
  • $24,398,100
    Funds lent in using Kiva
  • 23.9
    Nicaragua Cordobas (NIO) = $1 USD
Expired
A loan of $1,275 helped Servio to invest in his business and fill his grocery store with products like bags of coffee, shampoo, tomato sauce, juices in cans, sodas, prepared beans, bread, sugar, and traditional beverages like tiste and chicha.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 22, 2012
Listed
Oct 27, 2012
Currency Exchange Loss:
Possible
Expired:
Nov 26, 2012
This photo was used before for a previous loan for Servio. It was first posted on Kiva on Jun, 2011. Learn More