Update on FreddyFreddy, age 47, has an adult son. He is from León, which is located in the western part of the country. Freddy is known for being hard-working and responsible with the desire for personal improvement. Starting at a very early age, he has had to work hard in order to help with the household expenses. He struggles day to day for a better future.
Thanks to his motivation and desire for personal improvement, he has a business activity, a bookstore. He sells products like books, notebooks, pencils, rulers, cardboard, bond paper, legal size paper, corrector products, and erasers. He spends ten hours a day on his business, which he does with great pleasure.
The objective of the loan is to invest in working capital and to stock his business. He will buy and sell school products so that, in the not so distant future, he will be able to have better income. Freddy is grateful for the help that the Kiva lenders give to people with scarce resources in poor countries like Nicaragua so that they can have a decent way of earning a living.
Gracias a su espíritu y sus ganas de superación personal, tiene por actividad económica la una librería la cual vende productos como libros, cuadernos, lápices, reglas, cartulina, papel bond, carta legal, corrector, borradores. El dedica a su negocio unas 10 horas diarias, actividad que la desempeña con mucho gusto. El objetivo del crédito es invertir en capital de trabajo y surtir su negocio en la compra y venta de productos escolares para que en un futuro no muy lejano pueda obtener mejores ingresos. Freddy agradece la ayuda que los inversionistas kiva les brindan a personas de escasos recursos y países pobre como Nicaragua para tener un medio de trabajo digno.
Previous Loan Details46-year old Freddy is married and has an adult son. He earns his living running a bookstore from his house, a business he's had for five years. Freddy started his business as an alternative to a regular job so that his son could help in the store when he wasn't studying. The loan he is seeking ... More from Freddy'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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- Repayment Term
- 20 months (Additional Information)
- Repayment Schedule
- May 24, 2013
- Jul 8, 2013
- Currency Exchange Loss:
- Aug 7, 2013
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.