Update on WilfredoWilfredo, 36, is married and has 2 children aged 12 and 4. He is a native of La Paz Centro, a place that is located in the western part of the country. La Paz Centro is known for its traditional cuisine, including "quesillo" (a thick corn tortilla wrapped around soft cheese, pickled onions and sauce) and "tiste" (a chocolately corn drink).
Wilfred has a soldering workshop where he provides services to customers from his community and from surrounding areas. He started this business because he needed to have a source of work so that he could provide for his family and give them economic stability. With this loan, he will buy some tools for his work, including: a welder, wrenches, screwdrivers, pliers, and tongs. Wilfredo has a work routine where he works for 10 hours a day from his house, and also provides services at his customer's homes. Wilfredo appreciates the help that the Kiva lenders are providing to people with limited resources in poor countries like Nicaragua so that they can have a source of decent work.
Previous Loan DetailsWilfredo is an entrepreneur who offers welding services. He offers these services as a street vendor, as his customers call him to do welding for them. He also has customers who visit him frequently, and he does other casual jobs. He states that the work he does as an entrepreneur is self-tau... More from Wilfredo'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
- Repayment Term
- 15 months (Additional Information)
- Repayment Schedule
- Dec 12, 2012
- Jan 3, 2013
- Currency Exchange Loss:
- Feb 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.