Update on Miguel AngelMiguel Ángel, aged 64, is married and has 4 children who are all grown. Miguel is from the area of Jicaral, a place in the northern region of the country. Miguel Ángel butchers beef and pork and sells cattle for a living. His business consists of going around the neighboring areas, and he rides there and back on horseback. He travels up to 6 kilometers to buy cattle and pigs and then sells these to his customers, both through standing orders and new business. He has spent the past 9 years in this line of work.
Miguel has worked previously with Fundación and has proven himself to be a timely and responsible person in regards to his loan payments. He is currently seeking a loan for investment in his working capital so that he can buy a lot of pigs and horses that are currently offered at a good price, as he wants to take advantage of this opportunity to make a better profit and satisfy his customers' needs. Miguel gratefully acknowledges the assistance that the Kiva investors provide for people with scant economic resources and poor countries such as Nicaragua to have a decent working environment. Especially in a country with such lack of permanent jobs.
Previous Loan DetailsMiguel Ángel lives in the town of Jicaral with his wife. His children live independently. Miguel is 62 years old and works as a pig butcher. His father started him off in this business. He does not work regular hours and he currently needs a loan to buy pigs. This loan will help him to make ... More from Miguel Angel'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