Mercedes Del Socorrro
Update on Mercedes Del SocorrroMercedes del Socorro is 39 years old, married and with two underage children who are still under her responsibility. She is from Chinandega where the predominant activities are tourism and the trade and commerce of different products such as clothing, shoes, plastic products and vegetables, among others. Mercedes works selling cosmetics such as makeup, creams, shampoo and perfumes. She sells her products on the street to people she knows and to relatives. She takes both cash and credit. She has been doing this for 5 years. She has been able to take care of her family thanks to this job. She needs the loan to purchase cosmetics such as creams, soap, hair dye, straightening creams, as well as other omnilife products. Her products are in great demand and she has many orders. The company where she gets her supplies from sells high-quality products, which is something that sells very well among her clients. Given the high demand, she is requesting the loan to purchase working capital in order to buy more cosmetics and other products and thus generate a higher income for her family. Mercedes is very grateful for the support Kiva investors are giving to people with low economic resources.
Previous Loan DetailsMercedes del Socorro sells natural medicinal products. She has been in this business for more than seven years. Mercedes started this business because she needed a means of generating income for her household and for supporting her two children. She has the responsibility of working every day ... More from Mercedes Del Socorrro'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