Update on Michael ElizabethMichael 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.
Previous Loan DetailsMichael 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 »
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