Vicenta Del Socorro
Update on Vicenta Del SocorroVicenta del Socorro is a married adult with three adult children. She’s from the municipality of Chinandega located in the west of the country, a zone noted for commerce. Vicenta’s a very hardworking woman who strives in life to move her children forward and to give them a better future in life as professionals since due to lack of resources she herself was unable to finish her schooling.
Thanks to her efforts and drive for self-improvement, she now owns a grocery store located at home where she sells all types of products like basic grains, frozen goods, coffee, envelopes of shampoo, tomato sauce, eggs, salt, bread, milk, cooked beans, matches, cigarettes, cosmetics and low-cost novelty items, among others. She buys in markets and from suppliers who bring their products to her doorstep. Vicenta has regular and drop-in customers who she sells to for cash and on credit; she collects weekly and biweekly.
The objective of this loan is to invest in working capital to stock the grocery store and provide better customer service so that in the not too distant future her income will increase. Vicenta is grateful for the opportunity Kiva lenders give people of low economic resources.
Previous Loan DetailsVicenta, 64, is married and has three adult children. She’s from Chinandega Department, a place located in the west of the country. Vicenta is noted for being a very hardworking, kind, respectful person. Her economic activity is a grocery store located at home. She’s been in this business… More from Vicenta Del Socorro'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