Update on Marvin AlonsoMarvin Alonso is 46 years old, married, and has three children of 12, 21, and 28 years old, 2 of whom are still under his care and are studying. He is from Managua, a place in the central zone of the country. In his spare time he likes to go to the movies or watch soccer games. Unfortunately, due to a lack of economic resources, he was not able to study at university, but he would have liked to have taken a degree and been an automotive engineer.
Thanks to his spirit and his desire to be successful, he works selling vehicle parts. He likes this work very much and he works 10 hours a day in his business. To date, this has been his livelihood and that of his family. The goal of this loan is to invest in business capital and to buy vehicle parts such as rims, tires, motor valves, and spark plugs so that, in the near future, he will have a better income. Marvin Alonso is grateful for the help that the Kiva lenders offer to people who have scarce resources and to poor countries like Nicaragua so they have dignified work.
Gracias a su espíritu y sus ganas de salir adelante es que tiene por actividad económica la venta de repuestos de vehículos. Actividad que la desempeña con mucho gusto, su rutina es trabajar unas 10 horas diarias en su negocio. Ya que hasta la fecha ha sido su medio de vida y la de sus familia. El objetivo del financiamiento es para invertir en capital de trabajo y comprar repuestos de vehículos como llantas, neumáticos, motor válvulas, chisperos, para que un futuro no muy lejano pueda obtener mejores ingresos. Marvin Alonso agradece la ayuda que los inversionistas kiva les brindan a las personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsMarvin Alonso is 47 years old, married, and has three children (ages 23, 21, and 12), two of whom are under his responsibility since they are studying. He is originally from the city of Managua and manages a business in which he sells vehicle accessories such as tires, rims, grease, mirrors, and… More from Marvin Alonso'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