Update on Noel AgustinNoel Agustín is a married adult with two minor children. He’s from the municipality of Chinandega, a zone where seafood commerce predominates. Noel is a man who very much wants to improve to move his children ahead and provide a better future for them with the opportunities that unfortunately he was unable to have due to the lack of resources.
He owns a small seafood concentrating firm where he gathers up seafood in general like: fish, sea bass, red mouth, clams, crab, shrimp and others. Noel Agustín buys from local fishermen and sells to large firms and to small merchants in the city markets. The objective of this loan is to have working capital and to buy a 1000-pound capacity seafood thermos.
One of his dreams is to replace part of the roof at home. Noel is very grateful for the support Kiva lenders provide to people of low economic resources.
Previous Loan DetailsNoel Agustin is 37 years old and married. He works selling seafood such as fish (boca colorada, curbina, lisa), shrimp, crab, crayfish, conch, and chanpainanos from his home. He has 25 years of experience since he started this work from a young age with his parents. Currently, the business has... More from Noel Agustin'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