Update on Carlos ManuelCarlos is an adult with a common-law spouse and two children, ages 20 and 22. For 10 years he has made a living selling general merchandise such as underwear, cosmetics, china, a variety of clothing, and other things. He buys in Managua for merchants in Chinandega. In his business he also sells bicycle parts and accessories. He sells to grocery stores and others.
He has regular and occasional customers. He gives credit and collects weekly and biweekly. Carlos knows his customers very well and they request more product variety. What's difficult for him in his time is to keep his inventory because he distributes it.
He's very grateful to the Kiva lenders because they have given him the opportunity to get ahead in his business and give his family a better life.
Currently he's requesting another loan to buy clothing for children and adults and, with part of it, bicycle accessories.
Previous Loan DetailsCarlos has had a grocery store for the last 14 years. It is located in his home where friends, neighbors, family members and the general public come by. Carlos knows his customers and what they need very well. This isn’t his first loan because they have been of great use to him. He is curre... More from Carlos 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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Success!! The loan was 100% repaid