Update on Favio JoseFavio, 48, is married and has three minor children. He was born in León in western Nicaragua. He is responsible and hardworking and wants to succeed. He enjoys being with his family in his free time. Sadly, he lacked money to go to college and started working at an early age to help pay household expenses.
Thanks to his efforts and desire to succeed, he maintains a taxi service, offering routine and private trips. He will use this loan to buy a set of new tires so that he can offer customers better service and increase his income over the near term. Favio thanks Kiva lenders, who support low-income people in countries like Nicaragua so that they have decent work.
Gracias a su esfuerzo y sus ganas de salir adelante tiene por actividad económica el servicio de taxi, el cual brinda a su comunidad, de forma rutiada, y servicios privados. El dedica a su negocio unas 10 horas diarias ofreciendo sus servicios de taxi. El objetivo del crédito es invertir en la compra de un juego de llantas nuevas para brindar un mejor servicio a sus clientes, para que en un futuro no muy lejano pueda obtener mejores ingresos. Favio 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 DetailsMr. Favio José is 44 years old. He is married and has three adult children. Favoio provides taxi services and is constantly on the lookout for new ways to earn a living, because he is a responsible father. He had a very difficult beginning. He used to drive a different taxi, but little by… More from Favio 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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