Update on Cruz DonaldCruz Donald is a 58 year old married man. He lives in the city of Sauce with his children and family. Sauce is located in the northern zone of the country, and is characterized by being a zone that produces milk and its derivatives. For a living, he has a bookstore located in his place of residence. He has done this trade for 10 years. Cruz Donald is a man that is characterized by being responsible, hardworking, and has demonstrated his responsibility of payment in prior loans which he has invested in his business. The objective of this credit is to invest in working capital and stock his library for the near future and improve income and be able to satisfy the demand of his customers. Cruz Donald's working schedule is to work some 10 hours daily attending to his customers at his post. He is very comfortable with his business which to date has been his livelihood and his family. Cruz Donal is grateful for the assistance that the Kiva lenders provide to people with limited resources in poor countries to have sources of decent work.
Previous Loan DetailsCruz Donald is a vice-principal at a school. He requests the loan to buy supplies like cement, sand and drains to build a bathroom. He’s always been characterized by being a responsible man and father. He wants to do these home repairs because they are necessary for his family. This isn’t his… More from Cruz Donald'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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- Repayment Term
- 20 months (Additional Information)
- Repayment Schedule
- Dec 10, 2012
- Jan 2, 2013
- Currency Exchange Loss:
- Jun 17, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.