Update on MercedesMercedes is 44 years old and the single mother with two children, ages 13 and 10. Both attend school. She is originally from Leon, an area located in the western part of the country. She likes to spend quality time with her children in her spare time, and cook typical food for them, such as nacatamales. Unfortunately, she was not able to attend university due to lack of financial resources. She had to go to work at an early age in order to provide a better future for her children.
Thanks to her spirit and desire to get ahead, she set up a convenience store in her home. It’s a store where she sells small quantities of merchandise such as coffee, shampoo, rice, beans, sugar, milk, and bread. She works 12 hours a day in her business and her goal is to invest in it so she can stock her store, buying and selling consumable products. She wants to have a better income in the near future. Mercedes is grateful for the help from the Kiva lenders who make it possible for people from poor countries, such as Nicaragua, to have dignified work.
Mercedes de 44 años de edad, madres solteras con dos hijos menores de edad, de 13, 10 años los cuales están estudiando. Es originaria de León, lugar que está ubicado en la zona de occidente del país. En sus ratos libre le gusta disfrutar de tiempo de calidad con sus hijos. Y prepararles comida típica como ‘nacatamales’ lamentablemente por falta de recursos económico no pudo cursar una carrera universitaria. Ya que tuvo que trabajar desde muy temprana edad, para salir adelante en la vida, por lo tanto lucha día a día para brindarles un futuro mejor a sus hijos.
Gracias a su espíritu y ganas de salir adelante es que tiene por actividad económica una pulpería ubicada en su casa de habitación. Una pulpería es una pequeña tienda que vende en cantidades pequeñas como sobre de café, sobre de shapoo, arroz, frijoles, azúcar, leche, pan. Ella dedica a su negocio unas 12 horas diarias. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio en la compra y venta de productos comestibles para que en un futuro no muy lejano pueda obtener mejores ingresos. 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 DetailsMercedes runs a small grocery store from her home. She has four children, two of which are her dependents. She started this business ten years ago, mainly selling candy for children. Little by little, she reinvested in her business in such a way that she was able to sell staple grains, which i... More from 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
- Apr 10, 2013
- May 2, 2013
- Currency Exchange Loss:
- Dec 17, 2013
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.