Update on Enrique JoseEnrique José is 46 years old, single, and comes from Chinandega. Seven years ago he got the idea to buy and sell scrap and he started to buy from people in Chinandega, Corinto, and Chichigalpa. He offers to buy all the iron and aluminum that these people are no longer using at home, as these materials are recycled to make new products, and he turns them over to collectors in Chinandega. Through a great deal of sacrifice he has been able to get his own means of transportation, a truck with a loudspeaker, to carry the materials people sell him. He is asking for a loan to invest in working capital to buy more scrap so he can make more profits. He is very thankful to Kiva's investors for the help they offer low-income people.
Previous Loan DetailsEnrique José is a 45-year-old single man with no children. He has sold scrap metal as a street vendor for six years. He began this activity given the need to earn a living and for lack of a steady job. He wants the loan to buy scrap metal such as iron, copper, aluminum, and bronze, among… More from Enrique Jose'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