Update on Felix AlbertoFélix Alberto, 51, is married and has eight minor children who all attend school. He's from one of the towns in Chinandega, located in western Nicaragua, a coastal area where the predominant business is fishing because it's located on one of the beaches of Nicararagua.
His business is fishing, which he does with his own equipment. His children have learned the trade and they work. He has had the business for several years. He started at a very young age because he couldn't study for a university degree because he came from a very poor family and didn't have the economic resources. With his job he saved money until he was able to buy part of his fishing equipment.
Currently Félix is requesting financing to buy work equipment so he can upgrade the equipment he has.
One of his dreams is to be able to buy another boat so he can earn more income. He's very grateful to the Kiva lenders for the help they offer low-income people.
Previous Loan DetailsFeliz Alberto is an entrepreneur; he is 49 years old, married and has eight young children. His economic activity is fishing, as he lives in a coastal area; this activity is the asset of the area. He has 21 years of experience, having started as an assistant in the boats, later on, he bought some... More from Felix 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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