Update on Maria MercedesMaría Mercedes is 44 years old and is a single mother of two children, ages 22 and 15. She is a native of León, Nicaragua, which is located in the western part of the country. She has made a living selling a variety of clothing, such as pants, suits and dresses, skirts, baby clothes and cosmetics, for 13 years. She works 10 hours a day, going from place to place with some 20 kilograms (44 pounds) of products to offer her regular and soon-to-be customers. She already has worked with this institution and has demonstrated responsibility making her payments on time. Her goal for this loan is to increase her working capital and to stock up on supplies to satisfy her customers' demands and take advantage of Christmastime, when sales increase. María Mercedes is grateful for the help Kiva lenders have provided to people with few resources in poor countries like Nicaragua so they have a means to dignified work.
Previous Loan DetailsMaría Mercedes is 43 years old and sells general merchandise. She has earned her living in this manner for more than 12 years. The prices of the products that she buys have increased, so she is not able to maintain a variety of merchandise. The reason for this loan is so that she can offe... More from Maria Mercedes'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 9, 2012
- Nov 28, 2012
- Currency Exchange Loss:
- Jun 18, 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.