Update on Juan AlbertoJuan Alberto is single and 44 years old. His four children are all independent. He is from a municipality in Chinandega, which is located in the western part of the country. This region is well-known for its production of sugarcane, its shops, and its rum, among others.
He makes a living by producing and selling natural medicines, such as linseed oil, mullein, tree honey, colon cleaners, English ivy, laurel, pomades, vitamins, and injections, among other products. His business is located in his home, and he also sells products as a traveling salesman.
With his previous loans, he has been increasing his utilities and his clientele. He has been in this business for eight years. He makes his purchases once per month, both abroad and in his country. He makes his purchases in cash and sells on credit or in cash. His has regular and occasional clients in various municipalities in the country. He leaves his merchandise with them and when he comes back, he collects payments and leaves clients with new merchandise. His clientele knows that his products are of good quality and friendly to their income.
He will use this loan to buy raw materials such as linseeds, mullein, tree honey, plastic vases, pomades, aloe vera, and other products. Juan is very grateful to the Kiva lenders for the help that they give people with limited financial resources, so that they can have a decent livelihood.
Previous Loan DetailsJuan Alberto is single, 43 years old, and sells natural medicine for a living. His business is located in his own home. Recently he has added more utilities and his clientele has grown thanks to the loan the foundation offered him. He has been in this business for 7 years and feels very independent… More from Juan 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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