Update on Alba MarinaAlba Marina is 57 years old and married with two adult children who are 32 and 29 years old and live independently. She is from the department of León, which is located in the western part of the country. Alba has been earning her living running a stationery store in her home for 33 years. Alba Marina has already worked with Fundación León 2000 and has shown her responsibility and desire to get ahead; her business has shown growth and she has an excellent loan payment history.
She needs this loan to invest in working capital and to buy stationery products like notebooks, pencils, markers, crayons, composition books, folders, reams of letter- and legal-size paper, erasers, rulers, and pencil cases, among others. Because of the lack of work in her country, Alba Marina is grateful for the help that the Kiva lenders offer to people with limited resources in poor countries like Nicaragua, so that they can have a decent livelihood.
Previous Loan DetailsAlba Marina is 56 years old and runs a stationery store. She has been a client of Fundación León 2000 for a long time and she feels very happy because the loans have been a great help to her. She started out in this business because she needed to cover her household expenses as she didn't have ... More from Alba Marina'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