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Martha Lorena

Update on Martha Lorena

Martha Lorena is a 37-year-old woman. She's the mother of two children aged 18 and 11. Her husband is a driver for a sugar production company. With his help, she decided to start her own business selling general merchandise such as new clothing, t-shirts, shoes, blouses, skirts, shorts, etc. She started this business using her own money which she got from the grocery store that she no longer owns. She did that because she needed to improve her household income and pay for her expenses. She makes traveling sales and has several regular customers in her village. The purpose of the loan is to expand her business and to someday be able to improve her home and provide a better future for her children. Martha is very thankful for the help provided by Kiva lenders to people of scarce financial resources in poor countries like Nicaragua.
View original language description ↓
Martha Lorena es una mujer de 37 años, madre de dos hijos de 18 y 11 años de edad, su esposo es chofer de una empresa azucarera y con la ayuda de él decidió emprender su negocio de venta de mercadería en general como: ropa nueva, camisetas, zapatos, blusas, faldas, chores entre otros, negocio que con dinero propio el cual me dejo la pulpería que actualmente no tiene, esto lo hice por la necesidad de aumentar los ingresos de su hogar y poder cubrir con los gastos, las ventas las realiza de manera ambulante, tiene clientes muchos clientes fijos en su comunidad, el objetivo de la obtención del préstamo es ampliar su negocio y en un futuro poder realizar mejoras a su hogar y brindarle un mejor futuro a sus hijos. Martha esta muy gradecido con la ayuda que los inversionistas kiva le han brindado a personas de escasos recursos y países pobre como es Nicaragua

Previous Loan Details

Martha is an entrepreneur who has fought to move forward together with her husband. They saved their salary in order to be able to start this business, which she started because of the need to help her husband with the household expenses and move their children forward. Currently she is asking fo... More from Martha Lorena's previous loan »

Additional Information

Fundación Leon 2000

This 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.

About Nicaragua

  • $3,636
    Average annual income
  • 120
    View loans »
    Nicaragua Loans Fundraising
  • $24,399,325
    Funds lent in using Kiva
  • 24.1
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $500 helped Martha Lorena to purchase general merchandise such as new clothing, blouses, trousers, shorts, t-shirts, shoes, etc.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 18, 2013
Listed
Jan 24, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014