Update on Miguel Geronimo45 year old Miguel Geronimo is single and has 2 children in his care. He is originally from León, a place in the west of the country. He can be characterized as responsible, hardworking, and wanting to overcome problems. In his spare time, he enjoys himself playing games like baseball with his kids. Unfortunately, because he didn't have the economic resources, he was not able to study for a degree and he had to work from a very early age.
Thanks to his spirit of excellence and his desire to succeed, he has a business selling merchandise such as men's and women's clothes: trousers, blouses, t-shirts, skirts, shorts, dresses, underwear, towels, nightwear. He works about 9 hours a day and he sells door to door, carrying a 30kg package of clothes. The goal of this loan is to supply his business by buying merchandise so that, in the not too distant future, he can get a better income. Miguel Gerónimo is grateful for the help that the Kiva lenders offer to people who have scare resources and to poor countries such as Nicaragua so they can have dignified work.
Gracias a su espíritu de superación y sus ganas de salir adelante tiene por actividad económica la venta de mercadería como ropa de hombre y mujer pantalones, blusas, camisetas, faldas, short, vestidos, ropa interior, toallas, ropa de cama. El dedica a su actividad unas 9 horas diarias, actividad que la desempeña de forma ambulante con un bulto de unos 30 kg. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio con la compra de mercadería, para que en un futuro no muy lejano pueda obtener mejores ingresos. Miguel Gerónimo agradece la ayuda que los inversionistas kiva le brindan a personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsMiguel Gerónimo has been selling general merchandise to his family members, friends and acquaintances for thirteen years. This work has enabled him to make income for his household. However, he currently faces financial difficulties which have prevented him from making progress in his business… More from Miguel Geronimo'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
- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- May 16, 2013
- Jun 8, 2013
- Currency Exchange Loss:
- Apr 16, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.