Update on Eddy AlfredoEddy is a 57-year old man who is married and has a son. He lives in the department of Chinandega in a neighborhood located on the west side of the country. He's a hard-working, responsible and honest man who gives everything in his power for his family's future, and has worked in a welding garage for 31 years. He started to work as an assistant but, following his entrepreneurial spirit, decided to become his own boss and started his business with a lot of effort, dedication and sacrifice. His only child attends university and receives his unconditional support so that he'll have a good future and become a good professional.
Eddy is requesting a loan to invest in his business (purchase of welding machinery, working tables and iron, among others) and improve his income, so that he'll be able to keep helping his son to finish his degree and become a real professional. Eddy is grateful to Kiva lenders for allowing him to improve and grow his business.
Previous Loan DetailsEddy Alfredo is an entrepreneur with objectives and goals in life. He accomplished his main dream of having his own business, which is a welding workshop. He has already been a client of Fundación León 2000, and has maintained an impeccable credit record. With his last loan, he bought welding ... More from Eddy Alfredo'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