Update on Jose IlarioJosé Ilario, age 50, is married with six children of whom two are under his care. The others are economically independent. He is from one of the municipalities of Chinandega, located in the northeast of the country. This is a very productive zone where there are several types of businesses such as livestock, agriculture, fishing, gold mines, and businesses. José Ilario owns a woodworking shop located in one of the regions of Chinandega. He has a fixed salary from Minsa, where he works as a security assistant.
He purchases his materials in the neighbouring communities on credit and in cash. He has had his business for 27 years and makes all kinds of furniture such as: wardrobes, beds, doors, and drawers. He also repairs wooden furniture for resale or on commission. With great hard work, he has been able to increase his production now that demand is greater. One of his dreams is to be able to improve his business' structure in order to have better conditions and have a better work team. This will improve the quality of his work. He has fixed clients. He sells on credit and for cash. He charges weekly or every five weeks. His goal for this loan is to buy three loads of pochote wood and mahogany. This will allow him to finish off some orders. José Ilario thanks the Kiva lenders for the help they provide owners of small businesses in poor countries such as Nicaragua, so that they can have a dignified way of making a living.
Previous Loan DetailsJosé Ilario, 49, is married with five children of whom one is under his care; the others are financially independent. He lives in Villa Nueva, a place characterized by fishing and crop farming. There José Ilario has a woodworking shop where for 26 years he has built and refurbished wooden furniture… More from Jose Ilario'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