Update on Juan AlexanderJuan Alexander is single and lives in Chinandega in the western part of the country, an area known for commerce, tourism, and its beaches. He is a small business owner who sells general merchandise like clothing, shoes, perfumes, cosmetics, fabrics, decorations, knick knacks, plastic goods and other things. He makes his purchases in bulk in other towns, in cash. He sells for cash or credit to fixed and occasional customers. He starts his work day very early, walking around various neighborhoods and towns in Chinandega.
This new loan will be used to increase his inventory and take advantage of the sales this month, which are higher because the Christmas season is coming. He already has several orders from his customers. Juan is very grateful for the support that the Kiva lenders give to people of low economic resources.
Previous Loan DetailsJuan Alexander, 28, is single and has no children. He’s from Chinandega Department, a place located in the western zone. Chinandega is noted for being a commercially productive zone. His economic activity is selling general merchandise. He’s been in business ten years and he sells from plac... More from Juan Alexander'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