Update on Luis EduardoLuis Eduardo is married and has two minor children. He is from Chinandega, which is in the western part of the country. Luis has an automotive shop where he provides general electrical automotive service. He rents a small property for his business. He started his business as an apprentice. As time passed and he gained knowledge of the business, he decided to set up his own. He has fixed and casual customers.
One of his dreams is to be able to buy his own piece of land in where he will set up his own shop and to improve his house. This way he will give his children a better future, and he will see them become professionals.
Luis is requesting the loan to buy a compressor, a fixed asset. This way he will give his customers better service.
Previous Loan DetailsLuis Eduardo, 46, services home appliances. He started very young, beginning as an apprentice and learning bit by bit, and very much enjoying interacting with his clients. He is always thinking how to improve his business every day, and therefore is very pleased with this loan he is requesting ... More from Luis Eduardo'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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