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Lorena Cleotilde

Update on Lorena Cleotilde

Lorenza Cleotilde is an adult who is married with four children, all of whom are independent. She comes from one of the towns of Chinandega, located in the west of the country. This area is known for business, fishing and tourism due to its beautiful beaches.

Cleotilde owns a grocery store which she runs from her home selling items for the home pantry such as oil, beans, rice, sugar, frozen goods, lollies, detergent, shampoo, and soft drinks, amongst others. She makes her sales in cash to different distributors and markets in the community. Her sales are in cash but on some occasions she allows her regular customers to pay on credit, which is then repaid to her weekly.

One of Cleotilde's dreams is to see her business expand so that she can offer her customers new and better products. The aim of this loan is to invest in working capital so that she can buy food items, since orders are higher during this season than at other times. Cleotilde is very grateful for the support that Kiva lenders offer people with low income resources.
View original language description ↓
Lorenza Cleotilde, mayor de edad casada con cuatro hijos todos independientes, originaria de uno de los municipios de Chinandega ubicado en el occidente del país, zona donde predomina el comercio, la pesca, el turismo por sus hermosas playas, es propietaria de una pulpería ubicada en su casa de habitación donde ofrece productos del consumo del hogar como: aceite, frijoles, arroz, azúcar, productos congelados, golosinas, detergentes, shampoo, gaseosas, entre otros, sus compras las realiza al contado en diferentes distribuidoras y mercados de la localidad, sus ventas son al contado, y en algunas ocasiones al crédito a clientes fijos, los cuales recupera semanal, uno de sus sueños es poder ver crecer mas su negocio y ofrecerles mejores y nuevos productos a sus clientes, el objetivo de este crédito es para invertir en capital de trabajo en la compra de productos de consumos, ya que en estas fechas sus demandas son mayores que en otras épocas. Cleotilde agradece mucho el apoyo que los inversionistas kivas les ofrece a personas de bajos recursos económicos.

Previous Loan Details

Lorena Cleotilde is 46 years old. She is married and has four children, aged 21, 24, 25 and 27 years old. All of them work except for one who is disabled. She has a store located in her home as well as an ENABAS locale [National Business of Basic Food] which also brings in income that she can in... More from Lorena Cleotilde's previous loan »

Additional Information

Fundación Leon 2000

This 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.

Tags

About Nicaragua

  • $3,636
    Average annual income
  • 65
    View loans »
    Nicaragua Loans Fundraising
  • $23,485,000
    Funds lent in using Kiva
  • 25.6
    Nicaragua Cordobas (NIO) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Lorena Cleotilde to buy items for the home pantry such as grains and legumes, frozen goods and lollies, amongst others.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Dec 26, 2013
Listed
Dec 5, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014