Update on Luis AdrianLuis Adrián is 38 years old, married, and has five children, ages 7, 12, 13, 16, and 18. They all go to school; some in high school, others in primary school and university.
Previously, Luis sold livestock, but he has stopped doing this work and instead works in mining. His business consists of buying earth at the gold mines to grind and process, in order to produce gold. For this, he has a grinder located at his home, where he processes the earth and sells it to the gold buyers in the town of Somotillo.
Luis, thanks to the responsible way he operates his business, has been able to succeed. Now he has the support provided through the loans, so that he can invest in his business. Now he is again requesting financing to invest in the purchase of earth from the mines, which is his raw material and is very productive.
Previous Loan DetailsLuis Adrian is a 37 year-old entrepreneur from the San Miguelito region. He is married and has 5 minor children. He's had a business buying and selling livestock for 13 years, and he carries out this business from place to place. Luis Adrian started this business with his own effort, and thanks… More from Luis Adrian'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