Update on Maria FelixMaría Félix is 39 years old, is married with four children the two oldest (23, 20) and the two youngest (15, 13). The two youngest are in their second year of high school. María is a woman that with a lot of work has been succeeding with her loans and little by little has been able to give her family a good start in life. Before she used to sell staple grains in her home and in less demand, general merchandize, but now she has a greater demand for merchandize like clothing, shoes, makeup and other items. She started because of a need to have more income for her home and to contribute more to the household account, seeing that she is doing well she decided to stick to this business. Such is her demand that at present she does not have general merchandize. María sells her items at the Ingenio San Antonio (a sugar refinery) where the sugar harvest has started and demand for her items increased not only in the sugar refinery but in other areas of the same municipality of Chichigalpa. This is why María needs the loan, to be able to inject capital to her business and to restock with different merchandize to please her customers.
Previous Loan DetailsMaria Félix is an entrepreneur who set up her business with her own capital, and with a lot of effort has given her family a good start in life. This isn't the first time she has requested a loan; previously she invested in new products for her store that her clients had requested more of. She ha... More from Maria Felix'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