Update on Rosalia RamonaRosalía, 37, is married and has no children. She’s from León Department, a place located in the western part of the country. León is noted for being a place with welcoming, helpful, hardworking people. Rosalía’s economic activity is selling fruit and vegetables; she’s been in this business for 15 years. Her daily routine is to work 8 hours going from place to place with a basket on her head selling her fruit and vegetables.
She has worked with the Fundación previously and has been responsible and made her payments as required. The objective of this loan is to invest in working capital and stock her business with vegetables and fruit like oranges, tomatoes, peppers, papayas, pineapples, passion fruit, squash and chayote to be ready for the Christmas season this way. Rosalía is grateful for the help Kiva lenders provide people of scarce resources and to poor countries like Nicaragua so that ways of earning a living with dignity are possible.
Previous Loan DetailsSeñora Rosalia is 36 years old. She is married and has one son, who is 19 and whom she still supports. She is applying for this loan to purchase 1 mz. of land (about 1.7 acres) which has a crop of sugar cane. Then she will plant cane and yucca, among other crops. She began this business because o... More from Rosalia Ramona'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
- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Nov 16, 2012
- Nov 28, 2012
- Currency Exchange Loss:
- Dec 17, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.