Update on Luis AlbertoLuis Alberto is 40, is single and has a three-year-old child. He is from El Sauce, a town situated in the North of the country. He has run his business making and selling bricks for ten years.
The business problems he faces occur during the winter months because production is low, but, when summer arrives, production increases, as do his sales.
Luis Alberto has already received loans fom the foundation and has proved himself responsible in paying back the previous loans. He will use the funding to buy raw materials for making bricks, such as: clay, sand and soil. Luis Alberto is grateful for the help provided by Kiva investors, which helps small traders, with limited resources, to have a decent working environment.
Previous Loan DetailsLuis Alberto’s business is making and selling adobe bricks and roof-tiles. He started this work because of his father and opened his own shop eight years ago. Luis provides for a young son, but it has been difficult because his sales have decreased. This does not discourage him from continuin... More from Luis Alberto'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