Update on Julia MercedesJulia Mercedes is 34 years old. She is married with three young children. They are 4, 8 and 12 years old. She is originally from Leon, which is located in the west area of the country. In her free time she likes to enjoy quality time with her small children by preparing them a typical dish of the area such as “sopa de leche” (milk soup).
Unfortunately, due to lack of financial means, she was not able to study a university career. She felt obligated to work from a young age. Currently she works hard everyday to give her family a better future.
Thanks to her sprit and her drive to get ahead, Julia she has a sewing business and she sells clothing that she creates. The business is located in her home and she works 8 hours a day in this activity such as creation of clothing such as shirts, skirts, shorts, sleepwear, and school uniforms.
The objective of the loan is to invest in capital for work and supply the business with the purchase of materials such as fabric, linings, sponges, laces, thread, oil for the machine, needles, measuring tape, and zippers. She needs these items so that in the near future she could have better income. Julia Mercedes is grateful for the help that the investors in Kiva provide the people of scanty resources and poor countries such as Nicaragua to have a better means of honest work.
Gracia a su espíritu y sus ganas de salir adelante Julia tiene por actividad económica servicio de costura y venta de ropa elaborada por ella misma. El negocio lo tiene ubicado en su casa de habitación, y dedica unas 8 horas diarias a su actividad como es la elaboración de prendas de vestir como camisas, faldas, short, ropa de cama, uniformes de colegios. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio con la compra de materia prima como tela, forros, esponjas, encajes, hijos, aceite de máquinas, agujas, cintas de mantequillas, zíper; para que en un futuro no muy lejano pueda obtener mejores ingresos. Julia Mercedes agradece la ayuda que los inversionistas kiva les brindan a personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsJulia Mercedes is an entrepreneur who has been supported through the loan to invest in the business and increase her merchandise. She tells us that her customers also increased and that dressmaking is the most demanding service. During the loan period she has shown herself to be a persevering… More from Julia Mercedes'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
- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Mar 26, 2013
- Apr 6, 2013
- Currency Exchange Loss:
- Mar 17, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.