Update on Reynaldo JoseReynaldo José is married and has one minor child. He is from the town of Chinandega, located in the western area of the country. He works selling merchandise in general, such as clothing, children's shoes, cosmetics, and other items. He is a street vendor and has regular and occasional customers. He sells for cash as well as on credit, for which he collects payments weekly and biweekly. He goes out on the street very early in the morning to deliver his merchandise and make sales. At the same time, he recovers his investments.
The purpose of this loan is to invest in byuing merchandise like shoes, cosmetics, assorted clothing, and other items. Reynaldo is very grateful for the support Kiva lenders offer to people with low income.
Previous Loan DetailsReynaldo José, 48, lives in the city of Chinandega, a place in west Nicaragua noted for being very commercial. He’s married and has a three-and-a-half-year-old son. His economic activity is selling merchandise in general consisting in children’s and adults’ clothes, shoes, cosmetics, sets of… More from Reynaldo Jose'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