Update on Jorge AlbertoJorge Alberto, 48, is the single father of one son. He was born in Chinandega department in western Nicaragua. He started his business 19 years ago after becoming sick and having to work the night shift, which made his health worse. He opened a beauty salon in his house because he is creative, charming, and stylish. He offers manicures, pedicures, hair cuts, blow drying, ironing, braiding, waving, straightening, and other services. He also offers classes in beauty services.
He hopes to use his profits to buy a house, as he now rents his home. Jorge Alberto is applying for a loan to buy beauty supplies and products to improve his services, as demand is slowly increasing. He thanks the Kiva lenders whose support has helped him improve his salon.
Previous Loan DetailsJorge Alberto, age 48, lives in the town of Chinandega. He is single and has managed a beauty salon in his home for the past 18 years. Jorge started this business as a way of supporting himself since he did not have a job. He had taken beauty courses and then decided to open his own business, ... More from Jorge 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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Success!! The loan was 100% repaid