Update on Luis ManuelLuis Manuel is 31 years old. He is single, has no children, and is from Chinandega department. For five years, he has had a business selling cell phones and accessories. His business is located in one of the local parks. The business came about some years ago, with the sale of DVDs and CDs.
Now he has made a shift in the business, as for a year he has been 100% selling cell phones. This is been with the support his parents gave him, and the support that the institution has granted him through the loans; always so that he can invest in working capital.
Luis Manuel has shown that he is responsible by making his payments in a timely manner. The objective of the loan is to invest in working capital, and to buy new cell phones with more advanced technology; as well as to buy accessories such as screen protectors, batteries, straps, keyboards and covers.
Luis Manuel is grateful for the help the Kiva lenders provide to low-income people and to poor countries such as Nicaragua, so that people can have a decent way to make a living.
Luis Manuel de 31 anos de edad, soltero sin hijos, del departamento de Chinandega. Tiene por actividad económica la venta de celulares y accesorios, tiempo de tener el negocio 5 anos. Negocio que lo tiene ubicado en unos de los parques de la localidad. El negocio surgió anos atrás con la venta de DVD y cd actualmente el sr ha dado un giro en el negocio ya que desde hace un ano que tiene la venta de celulares en un 100 % esto ha sido con el apoyo que le dieron sus padres y el apoyo que le ha otorgado la institución con los prestamos siempre para invertir en capital de trabajo. Luis Manuel ha demostrado que es responsable con sus pagos en tiempo y forma. El objetivo del préstamo en invertir en capital de trabajo y comprar nuevos celular con tecnología más avanzada, y accesorios como protector de pantallas, baterías, colgantes, teclado, carcazas. Luis Manuel agradece la ayuda que le brindan los inversionistas kiva personas de escasos recursos y países pobre como es Nicaragua para tener un medio de trabajo digno.
Previous Loan DetailsLuis Manuel has had a CD and DVD sales business for over 4 years. He is always looking for ways to improve his income. The greatest challenge he faces is that there is a lot of competition since many people are in the same line of work. Because of this he strives to provide good customer servi... More from Luis Manuel'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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- Repayment Term
- 15 months (Additional Information)
- Repayment Schedule
- Sep 28, 2012
- Oct 13, 2012
- Currency Exchange Loss:
- Nov 12, 2012
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.