Update on Maria MargaritaMaría Margarita is 58 years old, single and the mother of 5 children ages 30, 32, 34, 36 and 38. Her children work and are independent. María has sold new clothes and shoes for 27 years. She works as a traveling salesperson, and apart from this receives help from her children who send remittances from abroad.
She started her business with the goal to survive since she is a single mother and needed to cover the expenses of her childrens' studies. Currently she has the complete support of them and hopes to invest the loan requested in clothing and cosmetics to increase her inventory and through this her earnings. One of her goals is to remodel her home. María is very grateful for the investors from Kiva for the support they offer to people with low incomes.
Previous Loan DetailsMaría Margarita is 57 years old and sells general merchandise. She’s been earning a living this way for more than 26 years. She is a responsible lady with four children who works independently. She began because she needed to provide the necessary income for her family. She will use the money... More from Maria Margarita'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