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Victorino Asuncion

Update on Victorino Asuncion

Victorino Asunción, 61, is married and has 3 children aged 13, 10 and 12 who are in school. They are natives of the municipality of Chinandega, which is located in the western part of the country and is known for being a very productive commercial area.

For more than 14 years, Victorino has been selling general merchandise such as sandals, adult clothing, cosmetics, trinkets, decorative items, plastic products, picture frames, big watches, small mirrors, and other items. He will use this loan to invest in working capital and to stock up his general merchandise business by purchasing pants, shoes, cosmetics, bed sheets, towels, and other items. This way, he can improve the quality of the products that he offers his customers and thereby obtain more income when he sells the products.

Victorino is a tenacious person who, in spite of his age, gives his utmost for his family. He is very grateful to the Kiva lenders for the support that they are providing to low-income people.
View original language description ↓
Victorino Asunción de 61 años de edad casado con 3 hijos de 13, 10 y 12 años de edad todos estudian, originarios del municipio de Chinandega, el cual está ubicado en el occidente del país y se caracteriza por ser una zona muy productiva en el comercio, Se dedica a la venta de mercadería en general desde hace más de 14 años, en el que consiste en la compra de venta de sandalias, ropa de adultos, cosméticos, chinerías, adornos, productos plásticos, retrateras, relojes grandes, espejos pequeños entre otros, El objetivo del crédito es invertir en capital de trabajo y surtir su negocio en la compra y venta de mercadería como: comprara pantalones, calzado, cosméticos, sabanas y toallas entre otros y así mejorar la calidad de sus productos que ofrece a su clientela, y de este modo planea obtener mayores ingresos al momento de comercializarlos, Victorino es una persona luchadora que a pesar de su edad el da el todo por el todo por su familia, él está muy agradecido con los inversionistas Kiva por el apoyo que ellos les brindan a las personas de bajos recursos económicos.

Previous Loan Details

Victorino is a 59 year old father who lives together with his wife and two dependent children. Victorino has been selling general merchandise for more than 12 years. He would like to acquire inventory so that he can improve the quality of the products that he sells. In this way, he plans to ma... More from Victorino Asuncion's previous loan »

Additional Information

Fundación Leon 2000

This 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.

About Nicaragua

  • $3,636
    Average annual income
  • 123
    View loans »
    Nicaragua Loans Fundraising
  • $24,043,075
    Funds lent in using Kiva
  • 24.7
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $425 helped Victorino Asuncion to buy pants, shirts, shorts, plastic items, clothing for adults, cosmetics, trinkets, and other products.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 26, 2013
Listed
Apr 3, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 16, 2014