Update on Marvin AlonsoMarvin is a 48-year old man, married and father of three children who are under his responsibility. He is from Managua, located in the central part of the country. He is known for being a hardworking and responsible man with a strong willingness of self-improvement. Unfortunately, he could not attend university and needed to work since he was very young. For this reason, he fights every day to provide his children with a better future.
Thanks to his hard work and willingness to get ahead, he started his business selling spare parts for vehicles. He enjoys his job and works approximately 10 hours per day. He will use the loan to invest in working capital and to buy spare parts for his business, such as wheel rims, oil, breaks and tires, with a final goal of improving his income in a near future.
Marvin is grateful to Kiva lenders for the support they provide to people with limited resources in poor countries like Nicaragua and for making it possible for them to have decent jobs.
Gracias a su esfuerzo y sus ganas de salir adelante tiene por actividad económica la venta de repuesto de vehículos, lugar que está ubicado en un lugar específico de su localidad. El dedica a su negocio unas 10 horas diaria, actividad que la desempeña con mucho gusto. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio en la compra de repuesto como llantas, aceite, frenos, rines, neumáticos. Para que en un futuro no muy lejano pueda obtener mejores ingresos. Marvin 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 DetailsMarvin Alonso is 46 years old, married, and has three children of 12, 21, and 28 years old, 2 of whom are still under his care and are studying. He is from Managua, a place in the central zone of the country. In his spare time he likes to go to the movies or watch soccer games. Unfortunately, due… More from Marvin Alonso'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