Update on Karla MariaKarla María is 29 years old. She is married and has three dependent children who are 12,10 and 4 years old. Her business is located in the city of Chichigalpa, Chinandega Department, where rum, cane and sugar prevail. Karla María makes her living selling household staples like: rice, sugar, cooking oil, corn, beans, soap, pasta and additional items. She makes her purchases in corn husking and rice threshing facilities. In addition, she sells general merchandise like: clothing, shoes and cosmetics, which she purchases in Chinandega, León and sometimes Managua. Karla is requesting the loan to purchase rice, corn and beans to re-sell to the markets. She will also use the loan to increase the variety of clothing, sandals, men's and women's shirts and cosmetics that she has available. This way she will be able to satisfy both her regular and occasional customers.
Previous Loan DetailsKarla María, 29, is an entrepreneur who started her own business selling general merchandise with much effort and with her own funds because she wanted to help her husband with household expenses and support their children together. Karla is asking for financing to buy a variety of clothe... More from Karla Maria'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