Update on Martha LorenaMartha 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.
Previous Loan DetailsMartha 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 for… More from Martha Lorena'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