Vicenta Del Socorro
Update on Vicenta Del SocorroVicenta, 64, is married and has three adult children. She’s from Chinandega Department, a place located in the west of the country. Vicenta is noted for being a very hardworking, kind, respectful person. Her economic activity is a grocery store located at home. She’s been in this business for 18 years. This type of store is one that sells items like rice, beans, sugar, coffee packets, shampoo packets, bread, milk, oil, eggs and detergents in small quantities. The objective of the loan is to act as working capital and stock the business in order to improve sales and meet customer demand. The business arose because she needed a source of family income. Vicenta is grateful for the help Kiva lenders provide people of scarce resources and to poor countries like Nicaragua so they can have a dignified source of employment.
Previous Loan DetailsVicenta del Socorro is 74 years old with three grown up children. She has a local store located in her home. She has been selling in this store for 17 years. She started her business with her own money. But with her loan from the foundation, little by little, her clientele grew and amount of… More from Vicenta Del Socorro'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