Update on Elia MariaElia Maria is 70 years old and a single mother from the town of La Paz Centro, a place that is located in the western part of the country. La Paz Centro is characterized by its typical food for the region such as “quesillo” [stuffed tortilla] and “tiste” [a drink made from cacao and corn]. She earns a living by selling tortillas and beans in her house, which she has been doing for 42 years and it is an activity that she performs with pleasure because up until now she has been able to perform it and it has been a source of work for her and her family. Elia Maria is characterized as being a responsible, hard-working and well-mannered person. With the previous loans she has demonstrated her responsibility by paying on time. The purpose of this loan is to invest in working capital to buy the primary materials needed for making tortillas, such as corn, firewood, a griddle, plastic bags, gas, and lime. Elia Maria appreciates the help that the Kiva investors provide to people with scarce resources and poor countries like Nicaragua in order to have sources of dignified work.
Previous Loan DetailsElia María works making tortillas for her family’s sustenance. She’s an entrepreneur with vast experience in this activity thanks to the loan she’s gotten from Fundación León 2000. She used said loan to buy products for her business. Elia María is asking for financing once again to buy product... More from Elia Maria'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