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Socorro

Update on Socorro

Socorro is 57 years old. She is a single mother with three grown children who are independent. She is from the department of Chinandega, which is located in the western part of the country.

Socorro has been working in general sales for 31 years. She works as a street vendor. Socorro’s daily routine is to work for 10 hours. She goes every day to a specific town where she offers her merchandise on credit and for cash to repeat customers and new ones. She started her business out of necessity so that she could support her children, who at that time were young and depended on her.

Socorro has worked before with Fundación Leon and through previous loans has shown herself to be responsible and punctual with her repayments. She needs the loan to stock up on merchandise because the Christmas season is approaching, which is when her sales increase. Having stock will allow her to meet her customers’ demands. With the money from the loan, she will buy merchandise such as: pants, skirts, dresses, children’s clothing, bedding items, blouses, cosmetics, and sandals.

Socorro is grateful for the support that Kiva lenders provide to people of few resources in poor countries like Nicaragua, so that they can have a dignified way to work.
View original language description ↓
Socorro de 57 anos de edad, madre soltera con tres hijos mayores de edad e independiente. Ella es originaria del departamento de Chinandega, lugar que esta ubicado en la zona de occidente del País. Socorro tiene por actividad económica la venta de mercadería en general desde hace 31 anos. Trabajo que lo desempeña de forma ambulante. La rutina diaria de socorro es trabajar unas 10 horas diarias ella recurre diariamente una ciudad especifica donde ofrece su mercadería de crédito y contado a clientes fijos y eventuales. Negocio que surgió por la necesidad de tener como subsistir con sus hijos que en aquel momento eran unos niños y dependerían de ella. Socorro ya ha trabajado con fundación león 2000 y ha demostrado en los créditos anteriores su responsabilidad de pago en tiempo y forma. El financiamiento lo necesita para invertir en capital de trabajo y surtir su mercadería ya que se acerca la temporada navideña donde las ventas se incrementan y de dicha forma poder satisfacer la demanda de sus clientes. Con el financiamiento comprar mercadería como: pantalones, faldas, vestidos, ropa de niño, ropa de cama, blusas, cosméticos, sandalias. Socorro agradece la ayuda que los inversionistas kiva les brindan a personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.

Previous Loan Details

Socorro is 55 years old. She sells general merchandise. She’s been in business over 30 years. She managed to learn it as an alternative source of work. She’s always been a very independent person and enjoys having a source of income to support her family. The loan she’s requesting is to buy c... More from Socorro'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
  • 144
    View loans »
    Nicaragua Loans Fundraising
  • $24,094,200
    Funds lent in using Kiva
  • 24.0
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Socorro to stock her business with merchandise such as: pants, blouses, skirts, children’s clothing, bedding items, underwear, cosmetics, and sandals.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 18, 2012
Listed
Nov 20, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014