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Michael Elizabeth

Update on Michael Elizabeth

Michael is 28 years old and a single mother with a 7-year-old child. She is from Chinandega, a place located in the western part of the country. Chinandega is a place with people who are very welcoming, hard-working and responsible. Michael's economic activity is providing tailoring services. She has done this work for 5 years. She started it because of the need to have a source of income to support her small child, due to the lack of sources of steady work. In her business, she makes a range of garments such as shirts, skirts, pants, dresses, nightgowns and children's pajamas. Michael needs the loan to invest in working capital, buying tailoring supplies such as satin, fabrics, spools of thread, needles, lace, buttons, linings, ribbons, and oil. Michael is a very hard-working and responsible woman with a desire to grow as a person. She has demonstrated this in her previous loans, with the fulfillment of her payments on time and in the right form. Michael is grateful for the help that the Kiva investors provide to people with few resources and poor countries such as Nicaragua, so that they can find ways to make a living with dignity.
View original language description ↓
Michael de 28 años de edad, madre soltera con un hijo de 7 años, originaria de Chinandega, lugar que está ubicado en la zona de occidente del país. Chinandega es un lugar con gente muy acogedora, trabajadora, responsables. La actividad económica de Michael es brindar servicio de costura, desde hace 5 años que desempeña dicha actividad. La cual inicio por la necesidad de tener una fuente de ingresos para el sustento de su pequeño hijo. Por falta de fuentes de trabajo fijas. El negocio consiste en elaborar prendas de vestir variadas como camisas, faldas, pantalones, vestidos, juegos de cama, piyamas de niños. Michael necesita el financiamiento para invertir en capital de trabajo y comprar material de costura como: sedinas, telas, carretes, agujas, encajes, botones, forros, cintas, aceite, carretes. Michael es una mujer muy trabajadora, responsable con ganas de superación personal el cual lo ha demostrado en los créditos anteriores con el cumplimiento de sus cuotas en tiempo y forma. Michael 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

Michael Elizabeth is 27 years old and her business is providing sewing services. Her business consists of repairing articles of clothing and she also produces clothing that her clients request. She started out this business because she needed to support her daughter. She needed to provide her with… More from Michael Elizabeth'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
  • 176
    View loans »
    Nicaragua Loans Fundraising
  • $23,230,250
    Funds lent in using Kiva
  • 24.0
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $175 helped Michael Elizabeth to buy materials for her work such as satin, fabrics, spools of thread, needles, lace, buttons, linings, ribbons, and oil.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 23, 2012
Listed
Dec 18, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 19, 2014