Update on Joaquin AlbertoJoaquín Alberto is a 50-year-old small-businessman. He is married and has two children, ages 25 and 23, one of whom attends a university. Joaquín makes a living as a jeweler, making items with gold and silver and also doing repairs. He set up his business 30 years ago after learning the trade when he was very young to help his family with household expenses. He currently has the support of his eldest son and his wife, who is working abroad. This time, he is requesting the loan to invest in raw materials like gold and silver. His goal is to expand his business. Joaquín is very grateful for the help Kiva lenders provide to people with few resources in poor countries like Nicaragua so they can have a means to a decent living.
Previous Loan DetailsJoaquín Alberto is a client of Foundation León 2000. He is an entrepreneur whose main economic activity is a jewelry store that is located in his home. His customers visit him there for the quality of work that he offers. Joaquín Alberto currently requests a loan to invest in his business ... More from Joaquin Alberto'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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