Update on Silvia MariaSilvia María is married and has three children. She lives in Chinandega, in the western part of the country.
Silvia makes a living selling general merchandise such as clothing for children and adults, cosmetics, shoes, gold jewelry, silver, knick knacks, decorations, etc. She makes her purchases in Managua, the capital of the country, and sells to vendors in León and Chinandega. She has steady and occasional customers. She leaves the majority on credit and collects biweekly and weekly.
All her merchandise is in accounts receivable because she delivers most of it to her regular customers. This is why her demand has increased, because of the good prices she offers her customers and the excellent quality of the merchandise.
Silvia's very grateful to the Kiva lenders because she has managed to keep on improving her home and giving her children a better life. She gets up very early and goes out to deliver merchandise. She's also recovering her earnings.
Silvia's requesting this loan for working capital to increase her business more and to offer her customers new products.
Previous Loan DetailsSilvia Maria has been selling general merchandise for 23 years. She is happy to be able to use the loan to buy greater volumes of varied merchandise, at discount cost, so she can offer better prices to customers. This will help her gain a better market position within her sector. Silvia gives ... More from Silvia Maria'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