Update on Luis AlbertoLuis Alberto is married, and has three grown children. He is from one of the municipalities of Chinandega and has a small business in his own home; he has a sewing workshop where he makes pants and shirts. He also makes women's and children's clothing. He generally makes his purchases in stores for cash. He makes his sales for cash and on credit to his customers, some of whom are fixed clients. For purchases made on credit, he charges on the fifteenth and thirtieth of every month. Luis has already taken out several loans with the institution and has proven himself to be responsible with his monthly payments, which he has repaid without any problem.
He will use this loan for the purchase of sewing materials. He thanks the Kiva lenders for their support of people of low economic resources in places like Nicaragua.
Previous Loan DetailsLuis Alberto is 64 years old. The service he provides is clothes making. He’s been in this business for over 22 years. He’s managed to raise his family through much sacrifice. For him, it’s a work alternative because at his age he can’t get any other job. Most of his customers are aware of the… More from Luis Alberto'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