Update on Francisco GabrielFrancisco Gabriel is 42 years old, and is married with two children aged 13 and 9. Francisco makes a living by selling clothes and cosmetics. He sells from home as well as door-to-door. Francisco has 9 years experience in this business. Francisco's routinely works 8 to 10 hours per day, depending on the route that he takes. Every day he leaves home carrying a 20 kilo bag of merchandise to sell in the hot sun to both his regular and new clients. This is the way that he has been able to provide for his family up until now. He has already worked with the Foundation and has demonstrated that he is responsible and pays back in due time and proper form. He needs this loan to invest in working capital and buy merchandise such as adult's and children's clothing, shorts, skirts, blouses, bed linen, and cosmetics - especially since Christmas is coming up and his sales will increase. Having more merchandise will enable him to satisfy his client's demands and increase his profits.
Previous Loan DetailsFrancisco Gabriel is the father of 2 small children aged 12 and 9 years. He lives with his wife and children. He has been selling new clothes for more than 9 years. He started the business with his wife who supported him so that he could start off selling with a few products. He currently has a… More from Francisco Gabriel'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