Update on Henry OctavioHenry Octavio is a married adult with four minor children. He is from one of the towns in the Chinandega area where commerce, sugar cane, sugar and rum dominate. Henry is a micro-businessman who works in carpentry/ furniture making. He makes different styles of furniture such as beds, wardrobes, dressers, china cabinets, entertainment centers, cradles, chairs, dining room tables and more. He also has a small and modest convenience store where he offers consumer goods for the home, such as frozen food, snacks, detergent and more. He sells in one of the town's lumberyards and for his other business he buys from distribution trucks, paying up front. One of his dreams is to be able to finish improving his home and expanding his convenience store more and having raw materials for his carpentry. The purpose of this loan is to buy raw materials such as wood, nails, and glue, as well as consumer products for the home and some zinc sheeting for his carpentry shop so the wood won't get wet. Henry is grateful for the support that the Kiva investors are offering to people with low income.
Previous Loan DetailsAt the age of 39, Henry Octavio is an entrepreneur who dreams with enlarging his business. He is a carpenter. He is aware that in order to reach his dream he will need a loan to buy glue, lumber, nails, varnish and work tools to fill the various orders he has pending because he currently lacks… More from Henry Octavio'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