Update on Martha LorenaMartha Lorena is elderly, married, and has two children under her care. She is from Chinandega, located in the west part of the country and has a small company where she sells general merchandise, such as shirts, pants, book bags, purses, shoes, and other things. She makes her purchases in cash at the city market and sells for cash or credit to steady and new customers. She gets up very early to go out and offer her products on foot. Her goal for this loan is to stock her business and be able to cover her customer orders for things like book bags, sandals, wallets, uniforms, etc. Martha Lorena is grateful to the Kiva lenders for the help they provide people from poor countries like Nicaragua.
Previous Loan DetailsMartha Lorena is a 37-year-old woman. She's the mother of two children aged 18 and 11. Her husband is a driver for a sugar production company. With his help, she decided to start her own business selling general merchandise such as new clothing, t-shirts, shoes, blouses, skirts, shorts, etc. She ... More from Martha Lorena'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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